GIPC SCANDAL UNFOLDS

. 65yrs Old CEO Rundown State Company

. Pays GHC7.6 Million GoldKey Properties Rent

. As Workers cry for unpaid salaries

In a shocking revelation, Reginald Yoofi Grant, the head of the Ghana Investment Promotion Centre (GIPC), is facing allegations of corruption that have rocked the organization.

An investigation by WhatsUp Reporter has uncovered a suspicious move by Mr. Grant to relocate the GIPC’s offices to a property owned by his close friend, real estate tycoon Kwaku Bediako.

Sources within the GIPC have raised concerns about Grant’s decision to compel the Board of Directors to move the organization’s headquarters to a rented property owned by Bediako, despite the property being smaller and more expensive than the previous government building where the GIPC was located.

This move has resulted in financial strain for the GIPC, with reports of delayed salary payments and mounting financial challenges.

Furthermore, Grant’s questionable actions include a significant increase in rent payments to Bediako’s property, totaling an astronomical GHc7,594,213.00 in 2023, a stark rise from the GHc3,255,840.00 paid in 2020.

These actions have raised concerns about Grant’s commitment to financial transparency and adherence to regulations set forth by the Rent Control Department.

Not only has Grant faced criticism for his handling of the GIPC’s finances, but there are also calls for his removal due to his age surpassing the legal retirement age of 65 years.

Despite constitutional regulations stipulating retirement at 60 years old, Grant’s contract has been extended beyond his 65th birthday, raising questions about accountability and adherence to legal standards within the organization.

Moreover, recent directives from the Deputy Finance Minister in 2022 suggest that post-retirement contract appointments should be limited to cases of crucial skill shortages, raising questions about Grant’s prolonged tenure.

As the scandal continues to unfold, critics are demanding accountability and transparency from Grant and the GIPC leadership. WhatsUp News will continue to investigate and report on this developing story, shedding light on the alleged corruption and mismanagement within the GIPC under Reginald Yoofi Grant’s leadership.

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