Capital Bank Takeover Saga: Ken Ofori-Atta & Keli Gadzekpo Coverup Backfires

Ken and Keli

Accra, Ghana, October 3, 2019//-Attempts by Ghana’s Finance Minister Ken Ofori-Atta and his business partner Keli Gadzekpo to deny that they ever planned to buy out the now-defunct Capital Bank has backfired as revealing paper trails show that the two indeed made a bid for the bank.

In a statement released on Monday September 30, 2019 the lawyers of Mr Ofori-Atta and Mr. Gadzekpo released a statement describing as “malicious, disingenuous and plainly false”  revelations last week by William Ato-Essien, the founder of the distressed Capital Bank, that the two had approached him to buy into his bank.

“The claim by Mr. William Ato Essien against the two founders of Databank, a reputable Investment Bank, is plainly false, malicious and disingenuous,” the lawyers of Mr. Ofori-Atta and Mr. Gadxekpo wrote.

In a May 12, 2015 letter sighted by Whatsup News shows that the two who own the Enterprise Group, had indeed made a bid for Capital bank. In the letter addressed to the Vice-Chairman of the defunct Capital Bank, Keli Gadzekpo referenced earlier discussions on the planned investment in Capital Bank and stated

In the letter, he said: “Thank you for your favourable response to our Expression of Interest to invest in your bank. I have had a discussion with Mr I. Osah Thompson-Mensah with whom I am working to agree on the earliest suitable date for our initial meeting. Thanks again for your favourable response and looking forward to meeting with you soon.”

This revelation has prompted the Member of Parliament’s Finance Committee, Isaac Adongo to call out the two founders of Enterprise as being deceptive.

“Dear Messrs Ofori-Atta and Gadzekpo, after reading the second paragraph of the so-called denial, I struggled, without success, to see what you denied or tried to deny. What was clear was that essentially, rather than deny the allegations as the letter sought to do, you actually confirmed the allegations,” Adongo wrote in an open letter to the Finance Minister and Mr. Keli Gadzekpo.

Mr.  Ato Essien revelation on Metro TV was hinting at the possibility of unfair targeting by Ken Ofori-Atta when he became Finance Minister in 2017.

Capital Bank is one of seven banks that have been closed down by the Akufo Addo administration for mismanagement and fraudulent operations.

However, about four Chief Executives of these banks have gone public alerting a deliberate conspiracy to run them out of business through a plot by Ken Ofori-Atta and the Akufo Addo administration.

“If the bank was that bad would the current finance minister and the board chairman of Enterprise Keli Gadzekpo come to my office to say we are interested to buy Capital bank? Ken Ofori Attah came to my office in 2016 to make that proposal,” Ato Essien said in the interview where he revealed the hitherto unknown personal interest of the Finance Minister.


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