Kofi Jumah accused of collapsing GIHOC; exposed for allegedly stealing GH¢40,000 weekly

Magdalene Ndamley, the Deputy CEO of GIHOC Distilleries Company Limited, has made serious accusations. She claims former CEO Maxwell Kofi Jumah stole money, leading to GIHOC's collapse.

Ndamley alleges that Kofi Jumah took GH¢40,000 weekly for eight years. She stated that his actions caused massive debts for GIHOC. This mismanagement ultimately led to the company's downfall.

In an interview on Radio XYZ on May 2, 2025, Ndamley said management and staff were also looting company resources. She noted that it was difficult to challenge Jumah on financial matters. He refused to return an official car because he claimed GIHOC owed him money.

Ndamley explained that every Friday, Jumah demanded GH¢40,000 in addition to his salary and fuel allowance. Even when he was not at work, this amount was sent to him via mobile money.

Her comments follow President John Dramani Mahama's concerns about GIHOC's financial issues. He questioned how an alcohol-producing company could be losing money despite high local demand. During the May Day celebrations on May 1, 2025, he remarked on GIHOC’s past profitability under his presidency.

Recent data shows GIHOC suffered losses in both 2022 and 2023. Finance Minister Dr. Cassiel Ato Forson revealed losses of GH¢25.1 million in 2022 and GH¢25.5 million in 2023.

Ndamley's allegations highlight serious issues within GIHOC Distilleries Company Limited under Jumah's leadership.