Prince Kofi Amoabeng, the founder of UT Group, has urged Ghanaian entrepreneurs to resist peer pressure and focus on building credible, well-structured businesses rather than chasing visible success in the early stages of their ventures. Speaking on The Peswa Podcast on Sunday, September 27, 2026, Amoabeng shared his experience building UT Financial Services to argue that young companies can thrive if they operate quietly and invest in the right foundations before attracting wider attention.
Amoabeng said new businesses benefit from operating below public notice in their early stages, using that period to establish strong internal systems and a culture of accountability. He recalled that Unique Trust, which later became the cornerstone of UT Group, was largely unknown when it launched. Regulators only began paying close attention once its financial activity became too significant to ignore.
The businessman identified the urge to spend early profits on visible symbols of success as one of the most common errors among young entrepreneurs. He noted that many business owners feel compelled to purchase cars or visit nightclubs to signal their progress to their social circles rather than reinvesting in their companies. Amoabeng added that such behaviour is rooted in peer pressure rather than sound business thinking.
Amoabeng also cautioned against founders running their companies like personal fiefdoms, where employees cannot question decisions or hold leadership accountable. He said a lot of young people start a business and bring the traditional form of governance, where they are the chief and the owner of the business, and employees are not allowed to challenge them.
Amoabeng reflected on his own shortcomings, acknowledging that his refusal to engage in political circles or chieftaincy networks sometimes left his businesses more vulnerable. He noted that informal influence shapes many business and government decisions in Ghana, often directing contracts and opportunities away from those best placed to deliver them.
Despite those challenges, Amoabeng encouraged aspiring entrepreneurs to begin their journey with confidence and discipline. He advised them to start on the right note, with the right structures and culture in place. Amoabeng's advice was shared on The Peswa Podcast on September 27, 2026, and is aimed at helping young entrepreneurs build sustainable businesses.
The UT Group founder's advice comes as a timely reminder to young entrepreneurs in Ghana, who often face pressure to achieve overnight success. Amoabeng's experience and insights offer valuable guidance for those looking to build credible and successful businesses in the country. His words of wisdom are a call to action for young entrepreneurs to prioritize building strong foundations over visible success.
Key points
- Prince Kofi Amoabeng advises young entrepreneurs to focus on building credible businesses rather than chasing visible success.
- Amoabeng cautions against spending early profits on symbols of success, citing peer pressure as a major influence.
- The UT Group founder encourages aspiring entrepreneurs to start their journey with confidence and discipline.
