Collapsed GIHOC was a thriving business under my tenure - Mahama

At the inauguration of the National Democratic Congress (NDC) Aldershot branch of the UK & Ireland Chapter, former President John Dramani Mahama delivered a passionate speech, emphasizing the crucial importance of winning the upcoming election for the betterment of Ghana.

Addressing the audience, the NDC's flagbearer for the 2024 elections underscored the urgent need for change, citing widespread deterioration across various sectors in Ghana, including healthcare and education.

He lamented the decline of state-owned enterprises, pointing out stark examples of once-profitable entities now struggling to survive.

Mr. Mahama highlighted the drastic decline in the performance of the Produce Buying Company (PBC), which went from purchasing 30% of Ghana's cocoa exports in the 2016/2017 crop year to a current state of purchasing none.

He also noted the dire financial situation at PBC, with employees going unpaid for 10 months and banks repossessing the company's properties due to unpaid credit.

Drawing further attention to the plight of state-owned enterprises, Mr. Mahama cited the case of GIHOC Distilleries, which under his administration was a thriving entity, generating capital from operations and investing in expansion.

However, he lamented that GIHOC is now struggling to meet its financial obligations, including staff salaries.

Mr. Mahama concluded by condemning the perceived mismanagement of state-owned enterprises under the current administration, declaring that virtually every such enterprise has suffered under the watch of President Nana Akufo-Addo.