For institutions like SIC Insurance, the proper procedure for appointment is through Public Services Comm’n – Manteaw
For institutions such as the SIC Insurance PLC, the proper procedure for an appointment is through the Public Services Commission (PSC), Civil Society activist, Dr Steve Manteaw has said.
He explained that politicians have however found a nice way of making the appointments and they get the appointees to ratify their appointments with the PSC. The political meddling is what seems to have made their tenure co-terminus with the political authority, he added.
On the heels of these observations, Dr Steve Manteaw described President John Dramani Mahama’s appointment to SIC Insurance PLC as unfortunate.
He further argued that SIC Insurance PLC is a listed company therefore actions by the government that are not in accordance with rules governing listed companies can be challenged in court.
In a Facebook post, Dr Manteaw said “I hear the presidency has made an appointment to SIC. If this is true, then it’s unfortunate. That company is listed.”
In the comments session of this post, he stated that “it must be controlled by the board on behalf of shareholders. For public sector institutions, the proper procedure for appointment is through the Public Services Commission. Politicians have however found a nice way of making the appointments and they get the appointees to ratify their appointments with the PSC. The political meddling is what seems to have made their tenure co-terminus with the political authority. The Supreme Court ruled on it in 2021 but who will have the will to implement it.”
In a separate post, he said “Some have argued that GCB, GOIL and SIC are not insulated. What they fail to take into account is the fact that, actions by the government that are not in accordance with rules governing listed companies can be challenged in court.
“Again, I’ve heard suggestions to the effect that, these companies are not doing too well. I think it’s important to recognise that these companies were pulled from the brink of collapse by the decision to list them.
“Though they may not be at their optimum level of performance, they are off the government budget, freeing the fiscal space to help fund critical development programmes. More importantly for me, they are not posting losses, as they used to do in the days before their listing.”
Meanwhile, the immediate past Managing Director (MD) of SIC Insurance PLC, Hollistar Duah-Yentumi has filed an injunction application against SIC Insurance PLC and the new M-D James Agyenim-Boateng.
Reports indicate that she has locked the MD’s office and withheld the keys, preventing her successor from assuming his role.
During an interview on Citi Eyewitness News on February 5, Agyenim-Boateng revealed that when he visited SIC’s headquarters to introduce himself to the management team, Duah-Yentumi declined to attend the meeting. The outgoing MD has also failed to present her handover notes, raising concerns among staff.
“It has become apparent that the real difficulty regarding why I have not been able to access the office is because my predecessor has actually locked up the office and bolted with the keys. It is strange,” Agyenim-Boateng stated.
With the leadership standoff deepening, Duah-Yentumi has filed an interlocutory injunction at the High Court, seeking to restrain Agyenim-Boateng from acting as the Managing Director.
The motion, filed through her lawyer E.N. Poku Esq, requests an order preventing SIC Insurance from recognizing him in the role.
Court Case: Hollistar Duah-Yentumi seeks injunction against SIC Insurance & James Agyenim-Boateng
