\n
SEIDU
\nAGONGO, the majority shareholder of collapsed Heritage Bank, is grieving over a
\npublic announcement made recently that the bank\u2019s assets were due to be
\nauctioned. <\/p>\n
Heritage
\nBank, which is currently under receivership, was one of nine banks whose
\nlicences were revoked since 2017. It did not pass the Bank of Ghana\u2019s benchmark
\nfor strong banks hence the loss of its licence to the clean up exercise to rid
\nthe banking sector of weak and insolvent banks.<\/p>\n
Mr
\nAgongo is currently standing trial for causing financial loss to the state in
\nsome contracts involving the supply of fertiliser to the Ghana Cocoa Board
\n(COCOBOD).<\/p>\n
Following
\nthe announcement, the businessman and philanthropist, has written an emotional
\neulogy on the bank. <\/p>\n
The
\nembattled businessman in a Facebook post titled \u2018a sad end?\u2019 said he envisaged
\nHeritage Bank to be \u201ca proud continental brand, blazing the flag of Ghana and
\nrubbing shoulders with counterparts elsewhere.\u201d<\/p>\n
He
\nsaid he was hopeful of building a stronger brand in Heritage Bank similar to
\nthe likes of Ecobank of Togo, Access Bank of Nigeria and Stanbic Bank of South
\nAfrica.<\/p>\n
\u201cIn
\nJuly 2014, I set out to build a brand that will endure and stand the test of
\ntime.<\/p>\n
It
\nwas a deliberate attempt, guided and inspired by a passion to create a
\nformidable brand from scratch onto the world economic stage,\u201d he said.<\/p>\n
He
\nadded that with the relevant financial resources in hand, \u201cwe completed
\nthe preparatory works and in October 2016, acquired a licence from Bank of
\nGhana to operate as Heritage Bank Ghana Limited.\u201d<\/p>\n
\u201cThe
\ndream was on and in the twinkle of an eye, a group of highly motivated staff
\nwere assembled and one of the best and most robust working structures put
\ntogether to render services that will endear those we came into contact with.<\/p>\n
All
\nwas well until 2017, when a new regulatory regime started, taking us prisoner,\u201d
\nhe noted.<\/p>\n
He continued
\nthat the bank, which was collapsed in January this year, was \u201cthe only solvent
\nbank to have lost its licence to the Bank of Ghana\u2019s reforms.\u201d<\/p>\n
\u201cAlmost
\nnine months down the line, the properties of the once cherished, blossoming and
\nglowing brand are now up for auction; an auction that is akin to the virtual
\ncontinuous auctioning of shrewd business ideas in our part of the world.\u201d<\/p>\n
According to him, \u201cHeritage Bank may be gone but the flame has not quenched and will not be quenched.\u201d<\/p>\n
BY Samuel Boadi <\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"SEIDU AGONGO, the majority shareholder of collapsed Heritage Bank, is grieving over a public announcement made recently that the bank\u2019s assets were due to be auctioned. Heritage Bank, which is currently under receivership, was one of nine banks whose licences were revoked since 2017. It did not pass the Bank of Ghana\u2019s benchmark for strong […]<\/p>\n","protected":false},"author":1,"featured_media":702610,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-702609","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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