SEC freezes Frances Essiam's suspension as GCMC CEO

BY: Enoch Darfah Frimpong

The State Enterprises Commission (SEC) and the Ministry of Energy have intervened in the impasse between the Board of the Ghana Cylinder Manufacturing Company (GCMC) and the Chief Executive Officer, Ms Frances Essiam.

The SEC has therefore asked the board to freeze the suspension of Frances Essiam as CEO to enable a three-member committee to look into the impasse and recommend the way forward. 

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The Executive Chairman of the State Enterprises Commission (SEC), Mr Stephen Asamoah Boateng, who made this known Wednesday afternoon said the three member investigation team to look into the issues at the company has already been constituted.

He said they have up to the end of May 2018 to let the SEC and the Ministry of Energy to know the wayforward.

A letter dated May 7, 2018 signed by Mr Stephen Asamoah Boateng and seen by Graphic Online named the members of the investigation team as Mr Felix Ntrakwah, a Senior Lawyer and Governance expect, Mr. Victor Ampofo Agyapong, a Chartered Accountant and a representative of the Ministry of Energy.


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The letter said in part: "in view of the serious happenings at GCMC, (that am also privy to), I am by this letter informing you, the Board Chairman and other Board Members that I have constituted a 3-member team to investigate the issues at Ghana Cylinder Manufacturing Company Limited and report by 31st May 2018."

"Thereafter, a joint report by myself and the Ministry of Energy will prepared for the appointing Authority.- ie The President, for a final decision and action to resolve the impasse and to enable GCMC Ltd focus its energy and resources to fulfil its mandate," Mr Asamoah Boateng directed.

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