Prof. Gyampo ushers in new era of austerity at Ghana Shippers Authority

The Chief Executive Officer of the Ghana Shippers Authority (GSA), Professor Ransford Gyampo, has announced new measures. These are aimed at improving the institution’s finances and rebuilding public trust.

His announcement follows a difficult financial situation he inherited when he took office.

In an interview with Adom FM, Professor Gyampo explained that the GSA's financial issues stem from decisions made by the previous administration. They consolidated excess funds from various state agencies to meet national obligations, like paying bondholders.

While he understands these commitments were necessary, he noted they left institutions like the GSA struggling.

To tackle this issue, Professor Gyampo has launched an “innovative austerity agenda.” This plan focuses on operational efficiency and ethical leadership.

One key reform is a strict suspension of all non-essential international travel. All staff, including the CEO, must now fly economy class.

“I may be the only CEO in Ghana who does that today,” he said. “It is unthinkable and unethical to indulge in opulence while my institution is bleeding.”

Additional cost-saving measures include reviewing and renegotiating contracts for better value. Some staff incentives have also been temporarily suspended to align spending with financial capabilities.

As a personal commitment to austerity, Professor Gyampo uses an old official vehicle for work duties. He relies on his private car for personal use.