You are here: HomeNews2017 08 17Article 570425

General News of Thursday, 17 August 2017

Source: My News GH

It’s a shame a ‘competent’ Otabil could not save Capital Bank – Kumchacha

Founder of the Heaven’s Gate Ministries, Nicholas Osei, popularly known as Prophet Kumchacha has expressed disappointment in Pastor Mensah Otabil for overseeing the collapse of Capital Bank although he has great academic credentials and has highly connected.

According to Kumchacha, he expected Mensah Otabil to be able to help his bank survive turbulent moment especially considering the fact that he described President Mahama as ‘Incompetent’.

Kumchacha who was speaking on Accra-based Kasapa FM said “When President Mahama was in power, Dr. Mensa Otabil called him ‘incompetent’. He extensively criticised the former President that he can’t rule over 27 million population but you (Otabil) with this small Bank (Capital Bank), you couldn’t keep this bank in business and sat to watch it collapse”.

The GCB Bank Ltd announced total take over the control of UT Bank and Capital Bank, a Press statement from the Bank of Ghana said Monday.

This follows the BoG’s approval of a Purchase and Assumption transaction with GCB Bank Ltd that transfers all deposits and selected assets of UT Bank Ltd and Capital Bank Ltd to GCB Bank Ltd.

According to the BoG, the move has become necessary due to a severe capital impairment of the two financial institutions.

Send your news stories to and features to . Chat with us via WhatsApp on +233 55 2699 625.

Join our Newsletter