President John Dramani Mahama has called for a full audit of the Buipe Sheanut Factory, citing mismanagement and financial losses that led to its shutdown.
Speaking during a courtesy visit by the Ghana Cocoa, Coffee, and Sheanut Farmers Association (COCOSHE), Mahama expressed disappointment over how the once-thriving factory was handled under the new administration.
“…The factory was running well. It had capital, it had stock of shea nut, it was processing when the change of government happened. The new administration, new management were sent to the factory. They did not only spend the capital but the stock of shea nut that they could have processed to make more money,” he stated.
According to Mahama, instead of utilizing the raw materials for production, the management sold them to another factory and exhausted the proceeds, leaving the factory with no funds to continue operations.
“They sold to another factory and collected that money and spent that one too. After spending the capital and spending the stock of raw material, there was nothing else to spend, and so the factory had to shut down and lay people off. It is an example of what not to do when you manage public resources,” he added.
He argued that had the factory been privately owned, it would have been handled more efficiently and still be operational. He, therefore, backed calls for an audit to hold those responsible accountable.
“I agree with the secretary that we must audit that factory and identify those who are responsible for causing this financial loss to the state and bring them to book,” Mahama stated.
