What Mr.Amoabeng is saying is very true of how he operated. I needed a loan for a travel and tours agency I had started and ran short of capital. He took me aside and told me a few financial truths! His advice made me realise the reality of my situation and I counted my loss and moved in a different direction not sinking further into debt. (A personal testimony to the ex husband of a former boss.I hold both of them in high esteem.)
What the former UT man is saying is true. The British behave like that. When i went to view the first house that i bought in the UK, the lady wanted to actually see me. She sat me down and inteviewed me. She told me that she wanted to know me before selling the house to me. She wanted to know if i am a genuine person and if we will be a good fit into the community. Ah i was paying her good money for the house too. All those financial mantra that Amoabeng was saying is practiced by the British in real life. The interesting thing is that people came to her with even more money so that they can rent in the future as an investment property. She said NO. She saw us as a family and decent people who needed a nice house thats all. We will have to learn as a country and not only fill our churches on Sundays deceiving ourselves.
But, those who are buying for Bussiness to rent out, aren't they also renting out to someone's family member?🤔 I don't get the logic. Not every family has money to buy a house. Sometimes some people rent their way to buying. So we need a healthy mix of acquisitions and rentals. One is not more important than the other.
@@kv7591 you've lost thr context and thrust of what I was referring to. It's not about renting g or buying but a particular principle. We distort arguments with this what aboutism. The principle for the former owner of my house was the behaviour of the buy to let buyers. They are known not to care about who they rent to. It's a k own fact that they do not keep up with the repairs on houses especially if the repair they think will not serve their short-time profit motive. As they are always looking round for profit maximisation, they'll sell at the drop of a heart amd other people will move in amd on and on it goes. The woman bless her could have got more money from the buy to let people but decided to sell to a family. Indeed a stable family unit so that as she leaves the area, she'll not leave her former neighbours with problems. This is an ethical position for her and not be for everyone. I see her morals as I'm leaving in the area and done so for sometime amd anytime I decide to move with my family, I'll not rent it out but leave it for my son who is on the verge of completing law school as a leg up. Ive never believed in speaking the biggest tongues. I've never prayed for more than five minutes. Not ever in my life attended all night as an adult apart of being there by my parents attending with me where I had no option. What helps me is how I deal with those I share this world with. It may not be your cup of tea but its helped me as I moved to study in the US and Europe. Never had a problem with immigration, police or any other authority, never borrowed mo ey in my life before for anything which surprises my wife. I've had people tell me I've not got eye thro. I tell them that's fine but the Consequence for anyone who cheats me is always dire. As I write, it's a moral issue which is different for everyone. It may not be good for you. Fine.
I love this man because he inspires me. I share the same birthdate with him. I really wish to meet him one day maybe on our birthday. Although we're down, we're on our way to greatness.
If he was a lawyer...he would have been qualify for the special prosecutor job.... This man is really good man...such a wise and have honest man ..I salute you Sir this is from one of your former OiC's W.O BOATENG I SALUTE YOU SIR
UT wasn't into trading. it was a commercial bank as commercial bank they give out loans. the bank collapsed cause of non-performing loans. for example Dzata cement was finished by UT bank. they didn't start operations before the bank went insolvent
@@rock-lord6051 I don't know if i am getting you right; Trading in the term " overtrading" does not necessarily mean trading (merchandise). Yes, UT was a commercial bank just like any other commercial bank. The term overtrading is applicable to any business, be it a bank, an insurance company, a farm etc. Now if the nature of your business is to grant loans. And your capacity can grant only Ghs 4m but because demand in consistently increasing say customers demand quickly started from Ghc 4m to Ghc 6m to Ghc8m to Ghc15m within the shortest possible time and as a company you engage in expansion and other activities to meet such demands without the appropriate financial muscle which turns to have negative effect on your working capital, it is overtrading. Hence overtrading is applicable to all nature of businesses.
He should have stayed his ground as a savings and loans, and expand horizontally because he was doing well instead of sudden desire of all fin houses to grow into a a bank…. the patapaa strategy he was using to recover his loans as a savings and loans can’t be applied when you are a bank, hence the growth in his bad debt portfolio which ended up collapsing his bank.
That’s mediocre and stupid. The assumption that you have to be old and successful before you can afford a type of car is mediocre. However, if you can’t convince the bank of how you are going to pay for the loan and you are denied the loan, I can understand that.
Bro stop it what he's saying is really true.i work with a bank.my boss even talked to me about a certain young guy in the bank about the way he does things.u dnt know the corrupt ways some of them make money there.later on we heard the guy has been sacked and my boss told me have u seen.if u dnt know is better u just shuush.do u know how expensive it is to maintain such cars.he will start stealing to maintain such a lifestyle believe me.
He specifically talked about assessment before giving the individual the loan; if you don’t cut it, you don’t get it! If you think about it, he was actually looking out for the individual. Cars require maintenance, is this person going to be able to juggle maintenance and loan payments without cheating the system and maybe getting in trouble with the law? Also this is Ghana, salaries weren’t and still aren’t that great on a whole.
it was in context, kindly open yourself to deep thinking. You are a bank worker and taking loan to buy x5, that amounts to financial indiscipline. You think he would have said that if the young man said he owned his own business, Why do we always castigate those who really wish us well?
@@prophecytv3975 I'm not arguing the fact that a bank worker earning whatever he earns should not be buying buying an x5. I'm more worried about him emphasising on the age as if its wrong for a any 35 year old should not be even thinking about owning an x5. This is the same thinking the police have and they harrass young people in nice cars as if its a crime to be young and rich.
@@thomasagorhom1139 listen very well before u speak....he said someone caLled him to buy his x5...not someone who was taking a loan to buy x5...but because he is a banker and was 38 he didn't Sell it to him
I remember this man when he was at his pick He made mockery of church and men of God And i knew he will be brought to his knees Am happy for your transformation KA
You are obviously happy a man's situation went bad?.. you are living a sad life .. it's not any of your beliefs that caused his failure... Even babies die
Investment x like a game buh the risk involve is real …Do u know why churches n politicians play mind games..they will only tell u it good for their interest n next they say it bad for other people…#Always remember that what is good for the goose is good for the gander …Poor mindsets suffer in the hands of wise people…N when they can’t take advantage, they start to call names like u are a fool,wicked etc
But Bill Gates at that time was his own boss working on Microsoft. He wasn’t an employee or a banker. Listen to the priceless advice and stop making unnecessary comparison
Very very Stupid advice. There a 21 year old Millionaires in the US, UK, and western Countries. What makes them different from a young Ghanaian worker who probably has his own plan to make it in Life. That nonsense thinking that some older generation have in Ghana, Is a very Backward way of Thinking. It is very sad that some of you think his Words are inspiring. It is a very condescending view of the youth of Ghana. It is utterly stupid. Our so called leaders dont know how to Delegate properly or even inspire the younger generation to be greater than they are. The sit with fat belly's in their offices and automatically assume that old age begets wisdom. If Ghana is still where it is Today and 20 year olds are making millions of Dollars elsewhere, then the Father's and grandfathers have to question their Legacy rather than patting themselves on the back for being a failure to the masses. The cheek of it. Young people in Ghana should be reading more articles and watching more videos about young around the world making impactful decisions in their communities. Solving massive problems. Instead we are here stumbling over nonsense advice and clapping.
What Mr.Amoabeng is saying is very true of how he operated.
I needed a loan for a travel and tours agency I had started and ran short of capital.
He took me aside and told me a few financial truths!
His advice made me realise the reality of my situation and I counted my loss and moved in a different direction not sinking further into debt.
(A personal testimony to the ex husband of a former boss.I hold both of them in high esteem.)
No one is perfect but this man makes sense in terms of how to develop urself as a young man.
He is my Mentor, he great Man
What the former UT man is saying is true. The British behave like that. When i went to view the first house that i bought in the UK, the lady wanted to actually see me. She sat me down and inteviewed me. She told me that she wanted to know me before selling the house to me. She wanted to know if i am a genuine person and if we will be a good fit into the community. Ah i was paying her good money for the house too. All those financial mantra that Amoabeng was saying is practiced by the British in real life. The interesting thing is that people came to her with even more money so that they can rent in the future as an investment property. She said NO. She saw us as a family and decent people who needed a nice house thats all. We will have to learn as a country and not only fill our churches on Sundays deceiving ourselves.
You ve said it all thanks 🙏
Sadly many in this country just accept whoever is ready with big cash.u can see this man is a genuine business man
A lot to learn from Dem bro..well said
But, those who are buying for Bussiness to rent out, aren't they also renting out to someone's family member?🤔 I don't get the logic. Not every family has money to buy a house. Sometimes some people rent their way to buying. So we need a healthy mix of acquisitions and rentals. One is not more important than the other.
@@kv7591 you've lost thr context and thrust of what I was referring to. It's not about renting g or buying but a particular principle. We distort arguments with this what aboutism. The principle for the former owner of my house was the behaviour of the buy to let buyers. They are known not to care about who they rent to. It's a k own fact that they do not keep up with the repairs on houses especially if the repair they think will not serve their short-time profit motive. As they are always looking round for profit maximisation, they'll sell at the drop of a heart amd other people will move in amd on and on it goes. The woman bless her could have got more money from the buy to let people but decided to sell to a family. Indeed a stable family unit so that as she leaves the area, she'll not leave her former neighbours with problems. This is an ethical position for her and not be for everyone. I see her morals as I'm leaving in the area and done so for sometime amd anytime I decide to move with my family, I'll not rent it out but leave it for my son who is on the verge of completing law school as a leg up. Ive never believed in speaking the biggest tongues. I've never prayed for more than five minutes. Not ever in my life attended all night as an adult apart of being there by my parents attending with me where I had no option. What helps me is how I deal with those I share this world with. It may not be your cup of tea but its helped me as I moved to study in the US and Europe. Never had a problem with immigration, police or any other authority, never borrowed mo ey in my life before for anything which surprises my wife. I've had people tell me I've not got eye thro. I tell them that's fine but the Consequence for anyone who cheats me is always dire. As I write, it's a moral issue which is different for everyone. It may not be good for you. Fine.
I have admired this man from a distance for so long.
This man made some people who I have benefited from, Can we help him bounce back
Those claiming he is wrong should think of Ghanas economy and the background of the young man who wanted to buy the car
Highly Favored, mega Superstar,Mr Kofi Amoateng💥💥💥
I love this man
I love this man because he inspires me. I share the same birthdate with him. I really wish to meet him one day maybe on our birthday. Although we're down, we're on our way to greatness.
You will meet him believe
If he was a lawyer...he would have been qualify for the special prosecutor job....
This man is really good man...such a wise and have honest man ..I salute you Sir this is from one of your former OiC's W.O BOATENG I SALUTE YOU SIR
Wow! This man is genuine
HE IS REALLY A GENUIE BUSSINESSMAN
Mr. Kofi Amoabeng is right!
thank u sir,,,,it s am atter of being disciplined and keeping the trust the
people have placed in you
I love your show
Interesting!!!
I really admire him but on the part that he said you are 38 and you want x5 is bs.
My brother you're wish man person like this man we need them for MP for Ghana
He’s changed so much, he looks different
Man with wisdom
Hmmm!!!! I like the last question. Did he overtrade at some point? Was overtrading the cause of the collapse??
where overtrade means?it collapsed due to non performing loans such as the ones he gave to dzata cement
@@nanaoseibonsu3798 Over Trading occurs when a business expands too quickly without having the financial resources to support such expansion.
UT wasn't into trading. it was a commercial bank as commercial bank they give out loans. the bank collapsed cause of non-performing loans. for example Dzata cement was finished by UT bank. they didn't start operations before the bank went insolvent
@@rock-lord6051 I don't know if i am getting you right; Trading in the term " overtrading" does not necessarily mean trading (merchandise). Yes, UT was a commercial bank just like any other commercial bank. The term overtrading is applicable to any business, be it a bank, an insurance company, a farm etc. Now if the nature of your business is to grant loans. And your capacity can grant only Ghs 4m but because demand in consistently increasing say customers demand quickly started from Ghc 4m to Ghc 6m to Ghc8m to Ghc15m within the shortest possible time and as a company you engage in expansion and other activities to meet such demands without the appropriate financial muscle which turns to have negative effect on your working capital, it is overtrading. Hence overtrading is applicable to all nature of businesses.
He should have stayed his ground as a savings and loans, and expand horizontally because he was doing well instead of sudden desire of all fin houses to grow into a a bank…. the patapaa strategy he was using to recover his loans as a savings and loans can’t be applied when you are a bank, hence the growth in his bad debt portfolio which ended up collapsing his bank.
Kofi Amoabeng my Hero
He's not ready at 38? Smh. If he's not ready at 38 then i don't know when he will be.
Precisely Brother. I am sickened by that statement of his and his way of Thinking.
Where comes from this man very intelligent discipline focus.Thus my bookie.
Ghanaians brought him down
You are right my dear
He brought himself down
The fact that you were struggling at 38 doesn't mean everybody should.
Wisdom is speaking #EvaMuzic
That’s mediocre and stupid. The assumption that you have to be old and successful before you can afford a type of car is mediocre. However, if you can’t convince the bank of how you are going to pay for the loan and you are denied the loan, I can understand that.
Bro stop it what he's saying is really true.i work with a bank.my boss even talked to me about a certain young guy in the bank about the way he does things.u dnt know the corrupt ways some of them make money there.later on we heard the guy has been sacked and my boss told me have u seen.if u dnt know is better u just shuush.do u know how expensive it is to maintain such cars.he will start stealing to maintain such a lifestyle believe me.
He specifically talked about assessment before giving the individual the loan; if you don’t cut it, you don’t get it! If you think about it, he was actually looking out for the individual. Cars require maintenance, is this person going to be able to juggle maintenance and loan payments without cheating the system and maybe getting in trouble with the law? Also this is Ghana, salaries weren’t and still aren’t that great on a whole.
@@Nancy-df5ht well said brother
Maglans Micro-Credit is a replica of UT Bank.
Sad UT didn't survive but in Ghana what can we expect.
This man is more sensible
Eii Ghana, you shouldn't be able to buy an x5 at 38. How old do you have to be to own an x5?
it was in context, kindly open yourself to deep thinking. You are a bank worker and taking loan to buy x5, that amounts to financial indiscipline. You think he would have said that if the young man said he owned his own business, Why do we always castigate those who really wish us well?
@@thomasagorhom1139 not everything was in the context of being a banker. He did make it seem like a 35 year old should not be driving x5.
very sad you cant see the wisdom in what he said. So sad for this country called Ghana if the youth can't just think deep enough
@@prophecytv3975 I'm not arguing the fact that a bank worker earning whatever he earns should not be buying buying an x5. I'm more worried about him emphasising on the age as if its wrong for a any 35 year old should not be even thinking about owning an x5.
This is the same thinking the police have and they harrass young people in nice cars as if its a crime to be young and rich.
@@thomasagorhom1139 listen very well before u speak....he said someone caLled him to buy his x5...not someone who was taking a loan to buy x5...but because he is a banker and was 38 he didn't Sell it to him
He is full of wisdom.
I I Okay ✅✅ and my my heart 💜💜 beats 🎧 I and I love 💕 I’m my best best love ❤️
I love 💕 and
This man took everything from my friends dad he even died in the process
What happened?
Hmmmm asem ooh
Who asked your friends father to go for a loan if he knows he can't pay
@@TVGhana don’t sit behind ya 2x4 laptop or whatever you got over there and talk anyhow
If your friend's dad paid the loan he agreed to with the collateral, he wouldn't have gone for his collateral.
Very wrong mentality. Driving an X5 at 30-38 is no brainy. Amoabeng is so wrong here. The elderly in Ghana see the young as aimless.
He sighted that a banker doesn't earn so much to maintain that car. He said there's something wrong somewhere and could be that he was stealing!
He sighted that a banker doesn't earn so much to maintain that car. He said there's something wrong somewhere and could be that he was stealing!
I remember this man when he was at his pick
He made mockery of church and men of God
And i knew he will be brought to his knees
Am happy for your transformation KA
Massa the churches are useless. Business goes up and down, that's not the reason why he's gone down and he's still doing well in other areas
You are obviously happy a man's situation went bad?.. you are living a sad life .. it's not any of your beliefs that caused his failure... Even babies die
Investment x like a game buh the risk involve is real …Do u know why churches n politicians play mind games..they will only tell u it good for their interest n next they say it bad for other people…#Always remember that what is good for the goose is good for the gander …Poor mindsets suffer in the hands of wise people…N when they can’t take advantage, they start to call names like u are a fool,wicked etc
Bill Gate was de world richest at age 35 lets change our mentality…u dont need to be old to be rich
He said invest wisely not in luxurious unwanted things
Bill gate was genuine and didn't waste funds on luxury
Look at u comparing someone in Ghana to Bill gates. U people will never listen to advice until u end up in jail
But Bill Gates at that time was his own boss working on Microsoft. He wasn’t an employee or a banker. Listen to the priceless advice and stop making unnecessary comparison
Listen carefully
Very very Stupid advice. There a 21 year old Millionaires in the US, UK, and western Countries. What makes them different from a young Ghanaian worker who probably has his own plan to make it in Life. That nonsense thinking that some older generation have in Ghana, Is a very Backward way of Thinking. It is very sad that some of you think his Words are inspiring. It is a very condescending view of the youth of Ghana. It is utterly stupid. Our so called leaders dont know how to Delegate properly or even inspire the younger generation to be greater than they are. The sit with fat belly's in their offices and automatically assume that old age begets wisdom. If Ghana is still where it is Today and 20 year olds are making millions of Dollars elsewhere, then the Father's and grandfathers have to question their Legacy rather than patting themselves on the back for being a failure to the masses. The cheek of it.
Young people in Ghana should be reading more articles and watching more videos about young around the world making impactful decisions in their communities. Solving massive problems. Instead we are here stumbling over nonsense advice and clapping.
He is full of wisdom
ruclips.net/video/XHU-0v5GiFg/видео.html
ruclips.net/video/XHU-0v5GiFg/видео.html