Allegations of financial mismanagement at GIPC spark public outcry

Accusations have surfaced against the Ghana Investment Promotion Centre (GIPC) concerning alleged financial mismanagement and questionable expenditures. According to a recent post shared on social media by a journalist, Nii Annerquaye Abbey, the GIPC is allegedly paying a staggering 625,000 cedis per month in rent for its current premises. This amounts to approximately 7.5 million cedis annually.

The controversy deepens as the organisation reportedly does not possess a tenancy agreement for the rented property. Even more perplexing is the claim that the GIPC previously occupied a government-owned building, where no rent was paid. This raises questions about the necessity and justification for the move to a rented facility.

Further allegations suggest that the GIPC spent 50 million cedis on foreign travel and 6 million cedis on local travel over the past six years. These expenditures are particularly troubling, given reports that the organisation is struggling to pay the salaries and provident fund contributions of its employees.

The revelations have sparked outrage among the public, with many questioning the government's role in the matter. Critics argue that the situation reflects broader issues of state capture and corruption. The post also suggests that the government has been deflecting responsibility for the country's challenges by blaming external factors like the COVID-19 pandemic and the Ukraine conflict while engaging in reckless expenditure of the country's scarce resources.

As these allegations continue to circulate, the public awaits a response from the GIPC and relevant authorities.

The GIPC announced their relocation to the Vivo Place, No. A1 Rangoon Lane, Cantonments, Accra on Monday, November, 2, 2020.