In the wake of the impasse between the Chief Executive Officer of the Ghana Cylinder Manufacturing Company (GCMC) and the board of the company, President Akufo-Addo has ordered the dissolution of the Board.
A statement signed by the Energy Minister Boakye Agyarko, and copied to his Deputy Ministers, noted among other things that the dissolution should be done in accordance with the provisions of the “company’s regulations.”
This comes weeks after the Chief Executive Officer of GCMC, Frances Essiam, was suspended by six of the nine members of the board, over claims that she had mismanaged the company, and also awarded some contracts without the approval of the Board or the Energy Ministry.
Prior to the suspension, the board queried Madam Essiam over the allegations of mismanagement.
Madam Essiam, who prevented the board members from holding a meeting at the company’s premises before her suspension, eventually defied the suspension, and returned to work with the support of the workers, insisting that she remained the CEO.
Frances Essiam not suspended – State Enterprises Commission
In a twist of events, the Executive Chairman of State Enterprises Commission [SEC], Stephen Asamoah Boateng, refuted claims that Frances Essiam had been suspended.
Energy Ministry, SEC set up c’ttee to probe Ghana Cylinder impasse
A three member committee was later set up by the SEC and the Energy Ministry to investigate the issue. This was in response to the recommendations of the GCMC’s board at the meeting held on May 8, 2018.
The Chamber of Petroleum Consumers [COPEC], had also called on the President to intervene in the impasse.
Executive Director of COPEC, Duncan Amoah
The Executive Secretary of COPEC, Duncan Amoah, said the President’s intervention was needed to ensure calm returns to the company.
Duncan Amoah further said the impasse does not augur well for the government’s quest to reintroduce the gas re-circulation policy.