The Deputy CEO of GIHOC Distilleries, Magdalene Ndamley, has made shocking allegations about the company’s financial collapse, citing widespread looting by staff and management as a major contributing factor. In an interview on May 2, 2025, Ndamley accused the company’s former CEO, Maxwell Kofi Jumah, of receiving GH¢40,000 every week, in addition to his salary and fuel allowance, even on days he was absent from work.
Ndamley also claimed that Jumah’s reckless borrowing practices left GIHOC Distilleries in significant debt. According to Finance Minister Dr. Cassiel Ato Forson, the company posted losses of GH¢25.1 million in 2022 and GH¢25.5 million in 2023, totaling over GH¢50 million in two years. Former President John Mahama expressed surprise over the situation, questioning how a company selling alcohol could incur losses.
The allegations have sparked calls for accountability and potential restructuring at GIHOC Distilleries. Ndamley’s revelations have raised concerns about the company’s financial management and highlighted the need for greater transparency and accountability in public enterprises.
Ruth Abla ADJORLOLO
