President John Dramani Mahama has questioned the financial mismanagement of state-owned GIHOC Distilleries Company Limited, expressing disbelief that an alcohol-producing company could operate at a loss in a country where demand remains consistently high.
Speaking at the 2025 May Day parade held at Independence Square in Accra on Thursday, May 1, 2025, the President cited recent reports indicating that GIHOC posted significant losses in both 2022 and 2023.
“How can you sell alcohol and be in debt? When I was president, GIHOC was making a profit. Because Ghanaians, when we are happy, we drink alcohol, when we are sad, we drink alcohol, so how can an alcohol manufacturing company make losses?” he asked.
His remarks drew applause from the workers and labour leaders, as he used the example to highlight what he described as widespread mismanagement within state-owned enterprises. He called for urgent reforms and greater accountability to protect public resources.
Mahama’s comments come in the wake of revelations by Finance Minister Dr. Cassiel Ato Forson during a meeting with the Chief Executives of specified entities under the State Interests and Governance Authority (SIGA) on March 13.
According to Dr. Forson, GIHOC Distilleries recorded a loss of GH₵25.1 million in 2022 and a further GH₵25.5 million in 2023, raising serious questions about operational inefficiencies at the state-run beverage manufacturer.
By: Ekow Annan/newsalertgh.com
