Former CEO and Co-Founder of defunct UT Bank, Captain (rtd) Prince Kofi Amoabeng has admitted that he did little to support Ghana’s film industry during his time in banking, citing the challenges conventional banks face in understanding the sector.
Amoabeng, who is now the Board Chairman of the Regal Film Festival and Awards (REFFA), made the admission to Starr News’ Nurein Abass, at the festival’s 2026 nominees’ announcement held at the Accra Marriott Hotel on Friday, 9th October 2026.
Responding to concerns about the lack of corporate support and funding for Ghanaian filmmakers, he said he had previously been in a position to help actors, directors and other industry players but had turned many of them away.
“I have been in a position where I could have helped the actors, directors, etc., but I did very little about it. I did help a few, but then bounced a whole lot of them because normal banks don’t understand the film industry,” he said.
His comments highlight a longstanding challenge for Ghana’s film industry, where access to financing remains critical to producing films, developing talent and expanding the reach of local stories.
Amoabeng is now urging corporate Ghana to reconsider its approach to the creative arts, arguing that the sector could provide employment opportunities for young people with the requisite talent and skills.
“Now there are no jobs, and a lot of our youth have the talent which can be exploited to create avenues for them to live, and for them to also employ people,” he said.
He believes his new role within REFFA offers an opportunity to apply his business experience to help strengthen the industry.
“Incidentally, I have gone round to become the board chairman of REFFA and now I’m on the other side and I have to use all the experiences that I have to give REFFA, the actors, the producers, the directors, and all the people involved in filming, what it takes for them to raise this industry to the highest level,” he added.
Beyond employment and business opportunities, Amoabeng also stressed the cultural importance of filmmaking, recalling a time when films played a significant role in educating audiences and shaping values within communities.
“Supporting filmmakers is crucial because the stories go to mould the value systems in people like in the olden days where films educated people in their homes and villages but now we are losing that,” he said.
He called on businesses across the economy to support the sector, insisting that responsibility for developing the creative arts should not rest with filmmakers alone.
“Every support from every sector of the economy should support the creative arts sector,” he said.
The 2026 edition of REFFA is scheduled for December 8 to 12 at the Palms Convention Centre in Accra, with activities including initiatives aimed at connecting filmmakers with distributors and creating opportunities for film projects to attract investment.
Story By: Nurein Abass
