GIPC Wasting Dollars On Rent After Moving From Free Office Space

CEO of Ghana Investment Promotion Centre (GIPC), Reginald Yofi-Grant CEO of Ghana Investment Promotion Centre (GIPC), Reginald Yofi-Grant

Tension is brewing at Ghana Investment Promotion Centre (GIPC) among staff of the state agency, over a decision by management, led by the Chief Executive Officer (CEO), Reginald Yofi Grant; backed by the Board to expend a staggering $21, 600,000 dollars on rent as its new head office.

The Herald has gathered that the new edifice, situated at Cantonments, precisely adjacent Kumordji Hospital, is far smaller than the old head office structure which was free as it was owned by the state and strategically located at the ministries.

However, the smaller office has been acquired at the rate of $600,000 dollars per annum for a period of three years.

Workers told this paper, that the entire Tenancy Agreement has been shrouded in secrecy, largely between the CEO, Board Chairman and few others, without the involvement of senior staff.

The ownership of the building, has also been questioned.

These profligate payments, workers say is happening at the time, GIPC's expenditure in the year 2020, had exceeded its income, as a result of these reckless spending and excessive travels by top management – CEO, Board Chairman and some board members.

What is infuriating most workers, is the fact that GIPC has purchased some parcel of land from Ghana Airport Company, ostensibly for the construction of its headquarters at Airport City, some years ago.

However, the particular land appears to have been abandoned, and the project remains a mirage, because Mr Yofi Grant-led management since assumption of office, has seemingly refused to pursue Ghana Airport Company to grant GIPC the land title to secure it, even after full payment on the land was made.

They said, instead of management to protect the land and build its headquarters on it just like the Ghana Free Zones Authority and National Communication Authority (NCA) have done, the GIPC CEO under the auspices of the Board, has decided to splash money on a rented property, rather than building their own.

According to the workers, the old office building owned by the Public Service Commission and located directly opposite the Ministry of Finance, was given to them free of charge and therefore, wondered why management would spend such an amount to rent.

"This new office is far smaller than the free accommodation being provided us by the government in the Public Services Commission building opposite the Ministry of Finance. So, why the need to rent this new one, if not for their personal interest," one of the workers lamented.

Management, has also been accused of reckless spending of public funds, amounting to thousands of US dollars for the partitioning of office, as well as procurement of new furniture and other fittings for this new headquarters building.