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There is proof of Ofori-Atta’s attempt to acquire Capital Bank – Isaac Adongo insists

The Member of Parliament (MP) for Bolgatanga Central constituency Isaac Adongo has insisted that Financial Minister Ken Ofori-Atta and the Board Chairman of Enterprise Group Keli Gadzekpo expressed interest in buying capital Bank though that has been denied by the two through their lawyers.

Speaking for the first time after the collapse of Capital Bank in 2017, founder of the defunct bank William Ato Essien alleged that the Finance Minister Ken Ofori-Atta and board chairman of the Enterprise Group Keli Gadzekpo proposed to buy his bank in 2016.

However, in a statement, lawyers for the Financial Minister and the Enterprise Group Board Chair said they never made a move to buy the now collapsed bank.

“We wish to place on record that neither Mr. Keli Gadzekpo nor Mr. Ken Ofori-Atta communicated to Mr. William Ato Essien an intention to acquire Capital Bank in 2016 as claimed by Mr. William Ato Essien. The claim by Mr. William Ato Essien against the two founders of Databank, a reputable Investment Bank, is plainly false, malicious and disingenuous”.

They added that “Our Clients reject and condemn the defamatory remarks and suggestions purporting to link our Clients in a negative way with the Banking sector clean-up process that was decided, implemented, led and managed by the Bank of Ghana”.

In an article written by Isaac Adongo and seen by, the legislator said “I have sighted a letter from Enterprise Group to Capital Bank signed by Keli Gadzekpo expressing interest to invest in Capital Bank. That both of you have the indecent courage to instruct your lawyers to churn out lies to deceive Ghanaians tells of such decay of your integrity deficit”.

According to Isaac Adongo, the statement issued by lawyers for the two subtly confirmed they expressed interest in acquiring the bank but did not reach a stage where they could carry out due diligence on the bank.

“For the benefit of doubt, what you did was to confirm that you expressed an interest in acquiring the bank even though you did not get to the stage where you could carry out due diligence on the bank and confirm its financial health. Hence your rejection of Mr Essien’s argument that the bank was in good shape to have attracted your interest in buying it, cannot be tenable.

Based on the facts, there is no denial that you actually approached Mr Essien together with Mr Keli Gadzekpo in Mr Essien’s office to acquire the bank”.

In the view of the Member of Parliament, the financial minister and his business partner have demonstrated a high level of dishonesty in the handling and response to the collapse of Capital Bank.


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