Whether he inspires you or you despise him, whether you love him or hate to even hear his name, whether you believe what he preaches or just the sight of him on the pulpit makes your tummy turn; there is one fact we can all agree on - Dr. Mensa Otabil is a ‘once in a generation leader’ who has made an extraordinary mark on this great nation of ours.
The empires he has built in the religious arena, education space and in Ghana’s business community will keep his name in the books of history written in indelible ink for a long time to come. For decades even long after he is gone, his sermons will continue to play from the pulpit to the lecture theatres to the libraries. His books will be reviewed by our great-grandchildren and they will come to the conclusion that this man was far ahead of his time.
The numerous young people whose educational dreams have been fulfilled through the scholarship schemes his church has established will continue to mention his name with a lot of warmth and gratitude. Just as those whose lives have been and will continue to be transformed thanks to the university he has established.
And off-course, those who have earned life-sustaining jobs through the chain of businesses he is involved with and the families built out of that will remain grateful to him forever. Including those workers of Capital Bank who will remain as staff of GCB Bank, as well as those who will be laid off.
By any measure, Mensa Otabil is not only a great man-of-God but a fascinating ‘man-of-men’ whose teaching, training, mentorship and direction has helped shape the lives of many across this continent and beyond. He is the kind of person every level headed individual will be proud to have as a family member, a friend or even a neighbour.
When news about two banks in distress emerged some weeks ago, I recall asking George Wiafe of Joy Business who first published the story without naming the banks to tell me the names of those institutions on the brink of collapse. He declined insisting he is doing the stories to help ensure the situation is resolved and not to cause panic.
In my mind, I pictured two banks that I thought the story was about. UT Bank was one, but I never imagined that Capital Bank which has Dr. Mensa Otabil who is unarguably one of Africa’s wisest men as board chairman will be hit by such a situation. So, when I woke up on the morning of Monday 14th August 2017 to news that Capital Bank was gone, I was shocked to the bone.
This is obviously an embarrassing situation for Dr. Otabil and his folks at the International Central Gospel Church (ICGC). And listening to him in church on Sunday, it was clear that the collapse of the bank which himself, his church and some of his pastors have vast shares in, has hit him hard. He obviously would have wished that this cup passed over him.
But the following question has been running through my mind since the story broke: clearly the bank was in distress but why did Dr. Mensa Otabil allow the bank to collapse? There are a thousand and one things he could have done to avoid his name being dragged in the mud as has been the case over the last few days.
We live in a country where influence peddling has virtually become normal in every facet of our society. Those the police arrest simply put through a phone call to someone in authority and they are left off the hook. People without any experience or expertise in business just walk into government offices with a note from one powerful human being and multi-million dollar contracts are handed over to them.
Associates of those in political authority just dip their hands in the national assets register and take over state entities they want, and turn them around for the good of themselves and their families. And if you want one of those positions of power, all you need to do is prove that you have even the thinnest connection with those at the helm of affairs already, and then you will be lifted up to the highest levels. In Kwame Nkrumah’s Ghana, if you are highly connected, there is nothing you cannot do except turning men into women and vice versa. I don’t have to mention the specific examples, they are all there for us to see.
Now, whichever way you look at it, Dr. Otabil wields unparalleled influence and power. In a country where religion is the opium of the masses, there can be no more powerful a person in our land than a religious leader whose exploits cut across the business, education, health, and other sectors of our economy. No wonder over the last three years or so, the Ghana’s Most Influential Awards team has repeatedly named him the most powerful person in the country.
And there is no doubt that although a politically neutral figure, his influence in this country can be stronger if he so wishes with the coming into being of this new administration. On the day the President of the land was declared the winner of the 2016 election, Nana Akufo-Addo mentioned him as one of the religious leaders he can’t express enough gratitude to.
The Finance Minister who is the chief supervisor of the Bank of Ghana that took over Capital Bank in that hostile fashion and handed over to GCB Bank, sits at the feet of Dr. Otabil every Sunday to listen to words of wisdom. At least two members of the Bank of Ghana’s board are key figures in Dr. Otabil’s church, including the wife of Otabil’s second in command. Even the Chief Justice is a member of his church, just as several ministers and deputy ministers. What couldn’t Dr. Otabil have done to save the bank if he wanted to push his weight around?
Capital Bank had gone into distress because unrecovered loans to the tune of about 80 million cedis had caused the bank to struggle. All Dr. Otabil needed to do in church was engage in an emotional appeal for funds one Sunday and ask his flock to pay the bank’s debt and I am sure he would have raised more than enough money to offset that. But he didn’t do this either.
The point I am driving at is this; Dr. Otabil had all the power and space to engage in ‘influence peddling’ to stop the hostile takeover of the bank he is board chairman of. That’s what you would have expected any normal person to do under this circumstance. Even commoners who by virtue of knowing a constituency executive of a ruling party uses that to have their way in this country. But Dr. Otabil didn’t do any of that. He watched on for due procedure to take its course and today, he is now a laughing stock for many.
But I am not surprised. The man has always preached about the need for this nation to have leadership that has integrity. He has always pushed for the strict application of the country’s laws in a way that ensures that no one cuts corners.
When he spoke at the Grand Convocation of the 2015 edition of the human development event, Springboard, he said: "Ghana needs integrity. We need it. And we need it not from our leaders, we need it from every citizen." Obviously, he doesn’t only preach those principles, he lives by them. So, he allowed the bank to go down the drain without asking his friends in authority to favour him and treat him with kid gloves. Only to explain the problem away as a knock by the devil which he will recover from soon.
What is clear is that at ICGC, the dream for a better tomorrow never wanes. Professionals there apply their genius to make not only their lives but Ghana as a whole a better place. Followers behold to the rule of law and not the ‘fear of men.’ Sheep don’t see their shepherd as super humans who they should move heaven and earth to please; they see them as ordinary people, all subject to the will of God in heaven.
The integrity exhibited by Dr. Otabil is an important lesson the rich and powerful in our society should learn from if we can make our country a better place. God bless Dr. Otabil and God bless our homeland Ghana.
Source: Joseph Opoku Gakpo | www.josephopokugakpo.wordpress.com
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Ghanaians must understand that the whole Capital Bank and UT bank failure was a 419 kriminal minded plan to dupe the Ghanaian tax payer and Mensah -Otabil is a KING -PIN !!!!!!; does anybody remember the Merchant Bank saga with Ibrahim Mahama ; Mensah -Otabil had a hand in the corrupt activity of Capital Bank because who can tell me that with all the management economic lectures for prudence to his church members Mensah -Otabil did not know what was going on at the Bank ; Mensah -Otabil has a toxic Kriminal mind to full the congrgation at ICGC and Ghanaians besides merely preaching the word of the gospel does not mean you live in the ways of God ; Ducan -Williams is another pastor with a kriminal mind and for those who say Mensah-Ptabil is a man of intergrity I just laugh because the man is a fraudester and thiff ; this a man with skills training in motivation and management skills so how come the man allowed this bank to go down ; for anybosy who attends ICGC should think TWICE because Mensah -Otabil is very dishonest man ;
Is this how low journalism has gotten to? Joseph, are u telling us that for the 3 years that the Bank of Ghana has been giving the Bank some lifeline and the stated capital was running into negative, the Board didn't know? Are u equally saying that the foreign banks that didn't want to transact with Capital Bank becos of the credibility of the shareholders, the Board didn't know? Are u telling us that the Board never saw the financial statements of the Bank for the past 3 years? Are u telling me that the Board never saw and discussed the Bank of Ghana review reports that they do from time to time for all Banks? Joseph, are u equally telling us that the Board never sighted a copy of the Asset Quality Review(AQR) report that was done some part of last year? In fact, ***barred word*** Joseph, with the current IMF programme and the review of the financial sector, there was no way; read my lips no way Otabil could have used any influence to keep the Bank afloat. the only way to keep it afloat was to have a concrete capitalization plan which he, his Board and Management lacked. In fact, Joseph, this your write-up is a disgrace to journalism.
@AGYEMAN.YOU MISSED MY POINT. ONCE AGAIN OTABIL AS A BOARD CHAIRMAN IS PARTLY TO BE BLAMED.AS BOARD CHAIRMAN, YOU RECEIVE CONSISTENT REPORTS FROM MANAGEMENT AS TO THE OPERATIONS ON THE COMPANY ON ANNUAL BASIS.THIS IS WHY I SAID THE SINKING STARTED SOMETIME BACK AND THEREFORE THE BOARD CHAIRED OTABIL COULD HAVE USED LEGAL MEANS TO SALVAGE IT BEFORE ITS ULTIMATE COLLAPSE.THEY FAILED PERIOD AND THERE IS NO EXCUSE HERE.NO NEED TO USE YOUR INFLUENCE.RATHER THERE WAS THE NEED TO USE GOOD JUDGEMENT
U dont understand corporate governance! It gets to a point that you cannot salvage anything. the bank could not have hounoured the cheques of depositors. That is dangerous. Talk to bankers beforre you comment. 80 million loan dont collapse banks pls. He was the chair of the board and the ultimate responsibility lies with him. Besides he has never indicated what he did to solve their problem when it started 3 yerars ago. Bad leadership! Its one thing driving the car and another sitting and taking about how it should be driven. Its not about holy spirit. Stop the ***barred word***!! If he was in the advance world he would never have been a director of any company for years. He would have taken part of the glory if the bank has don well. lets be hard on our leaders when they go wrong cos they are human!
Joseph,how did you arrive at the conclusion that pastor Mensa Otabil is a man of intergrity? Did you interview him to find out whether or not he did not do anything untoward? Have you done any investigation concerning the action and inaction of pastor Mensa Otabil that led to the collapse of the bank? You did not mention any of the above mentioned activities in your write up. As a journalist you will always have to conclude on facts. Pastor Mensa Otabil is human just like any other human being. Human beings are not perfect. They are bound to make mistakes. The most important thing is to accept responsility for the consequence of your mistakes and move on and not try to justify your mistakes like he and his subjects like you are doing.
DEGREE HOLDERS HOW CAN A BIG BANK FALL I CANT THINK FAR OH NO GOD HELP THEM AMEN
The writer forgot that Otabil and co made the call at the Greater Works and sold miracles for as much as $5000. Multiply the miracle money by the amount of people at the Greater Works and the number of days. What are you saying? Christians be wise and let God and only God be your guide and inspirations!!!
Joseph Gakpo Your write does not add up. The problem of the Bank started in 2014 and Otabil has been a Chairman cum shareholder. Deutsche Bank raised questions about shareholders and therefore could not open correspondent banking with them. A former MD of the bank did a memo to the Board about the problems and how to salvage the bank. What did Otabil do about that. Motivational speaker is different for a pastor and a businessman. You can't combine all into one. You think because you can stand on the pulpit and say anything so you can equally be a board chairman of a bank.
@SAM,we dont have the full facts at this stage.Can we hold our peace until full investigations are done? Board Chairmen dont get involve with the day to day running of companies.We dont even know what exactly happened. But I am sure whatever the case,Doc Otabil could have made an influential call to bid more time.The president would have refused such calls.
JOSEPH I AM SURPRISED AT THIS YOUR WRITE UP.YOU SUGGEST THAT PASTOR OTABIL COULD HAVE USED HIS INFLUENCE TO SAVE THE SINKING BANK.THE SINKING OF THE BANK ONVIOUSLY DID NOT START IN A DAY SO THE MORE IMPORTANT QUESTION IS WHAT COULD HAVE THE BOARD WHICH INCLUDES PASTOR OTABIL DO LEGALLY IN THAT CIRCUMSTANCE TO SAVE THE BANK.YOU MANIFESTLY FAILED TO DISCUSS ALL THE POSSIBLE WAYS A COMPANY CAN BE SALVAGED UNDER THE LAWS AND ONLY CHOSE TO DISCUSS THE INAPPROPRIATE WAY(USING ONE'S INFLUENCE) WITH WHICH YOU CONCLUDE PASTOR OTABIL IS A MAN OF INTEGRITY BECAUSE HE DIDNT CHOOSE THAT PART.WHAT ABOUT THE MANY PROPER AND LEGAL PATHS HE COULD HAVE CHOSEN.THE QUALITY OF GOOD LEADERS ARE SEEN UNDER SUCH PRECARIOUS SITUATIONS. LINCOLN DID IT TO SAVE THE UNION IN AMERICA DURING THE CIVIL WAR, MANDELLA DID IT TO HEAL A NATION ETC.PLEASE LETS BE FAIR IN OUR DISCUSSION. THANK YOU