Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, smeared the reputation of the Managing Director of Intercity STC Coaches Limited, Nana Akomea, in the mud over the company’s ineffectiveness over the years.
In an interview on Metro TV’s Good Morning Ghana, Mr Ablakwa berated Nana Akomea for watching STC continuously run at a loss from 2017 to date.
Reading an excerpt of a SIGA report that highlights the company’s ineffectiveness, he pointed out that due to mismanagement, the company from 2017 to the present times, has incurred a loss of GHC162.4 million.
Mr. Ablakwa provided a breakdown of the financial losses recorded over the years:
- 2017: Losses of 28.9 million
- 2018: Losses of 18.1 million
- 2019: Losses of 27.9 million
- 2020: Losses of 35.1 million
- 2021: Losses of 52.4 million
The current average loss is GHC32 million.
He empathised with the company for the losses recorded in 2020 due to the emergence of the COVID-19 pandemic. However, chastised the management for its failure to see a comeback as observed by some other state institutions such as Labadi Beach Hotel.
“In 2020, when Labadi made a small loss and not as huge as this. In 2021, they had picked up making GHC38 million profit. Nana Akomea’s STC couldn’t pick up,” he said.