POLITICS

WATCH: GIHOC CEO detailed how Kofi Jumah took GH¢40,000 weekly allowance

The Deputy Chief Executive Officer of GIHOC Distilleries Company Limited, Magdalene Ndamley, has exposed alleged corrupt activities at the company.

Speaking in an interview on Radio XYZ on May 2, 2025, Ndamley claimed that the company had collapsed because both staff and management were looting its resources indiscriminately.

She alleged that the former CEO of GIHOC Distilleries Company Limited, Maxwell Kofi Jumah, allocated to himself a weekly allowance of GH¢40,000.

She also accused him of incurring massive debts due to excessive borrowing, which has now plunged the company into financial distress.

“You couldn’t challenge him on financial matters. We have called him about the official car, and he says he won’t return it because GIHOC owes him,” she said.

“This man has plunged GIHOC into huge debts. Every Friday, he instructed that GH¢40,000 be handed to him. He was already receiving a fuel allowance and his regular salary, yet he demanded an additional envelope of GH¢40,000 every Friday at 2:00 p.m. Even when he was not at work, the amount was sent to him via mobile money,” she added, speaking in Twi.

Ndamley’s revelations follow President John Dramani Mahama’s expression of shock at GIHOC Distilleries Company Limited’s financial woes, questioning how an alcohol-producing company could be running losses amid high local demand.

Speaking during the May Day celebrations at Independence Square on Thursday, May 1, 2025, President Mahama cited data showing GIHOC made losses in both 2022 and 2023.

“How can you sell alcohol and be in debt? When I was president, GIHOC was profitable. Ghanaians drink when they’re happy and when they’re sad. So how does an alcohol manufacturer run at a loss?” he asked.

He called for improved accountability in state-owned enterprises and used GIHOC as a case study of poor management practices.

Earlier, on March 13, 2025, Minister of Finance, Dr Cassiel Ato Forson revealed that GIHOC Distilleries posted a loss of GH¢25.1 million in 2022 and GH¢25.5 million in 2023.

Watch the interview below:

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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