Home Politics State-owned companies are making losses due to Nana’s “Yenkyendi” governance – Mahama

State-owned companies are making losses due to Nana’s “Yenkyendi” governance – Mahama

Pointing accusing fingers at the ruling administration, he emphasized the urgency of securing victory in the upcoming elections, not merely for the party but for the welfare of the nation.

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Flagbearer of the opposition National Democratic Congress (NDC) John Dramani Mahama has rallied against what he described as a deteriorating state of affairs in Ghana, particularly in key sectors like healthcare and education.

Pointing accusing fingers at the ruling administration, he emphasized the urgency of securing victory in the upcoming elections, not merely for the party but for the welfare of the nation.

Speaking at the inauguration of the NDC Aldershot branch of the UK & Ireland Chapter, the opposition leader lambasted the current government, branding it as a ‘yenkyendi‘ regime, a local term suggesting the looting of revenue generated from these companies. 

Mr Mahama highlighted stark contrasts between past and present performance in state-owned enterprises, underscoring the alarming decline in profitability and operational efficiency.

Citing the example of the Produce Buying Company (PBC), he lamented its drastic fall from grace. 

“I will give you two examples. In the 2016/2017 crop year, the Produce Buying Company purchased 30% of the total cocoa exported from Ghana. 

Today, do you know how much PBC buys? 0%. And they haven’t paid their workers for ten months; banks are towing PBC’s properties away because they have been unable to repay their credit,” he said.

The former president also drew attention to the plight of GIHOC Distilleries, once hailed as a success story under his administration. Highlighting its current struggles to meet payroll obligations and sustain operations, he painted a grim picture of the company’s decline, attributing it to what he characterized as a broader pattern of economic mismanagement.

With elections looming on the horizon, the opposition leader’s message underscored the high stakes involved and the imperative of choosing leaders committed to steering Ghana towards a path of progress and prosperity.

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