Maxwell Kofi Jumah is a former CEO of GIHOC Distilleries Company Limited
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:
“Former GIHOC CEO, Maxwell Kofi Jumah was making a mandatory weekly payment of GH¢40,000 to himself”
– Deputy CEO of GIHOC, Magdalene Ndamley. pic.twitter.com/wK2vmUYEnt
— SIKAOFFICIAL🦍 (@SIKAOFFICIAL1) May 2, 2025
BAI/MA
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