Former Managing Director of GIHOC Distilleries, Maxwell Kofi Jumah, has been arrested by national security operatives in Kumasi over allegations of financial mismanagement during his tenure at the state-owned beverage manufacturing company.
Sources indicate that Mr. Jumah was picked up on Sunday, June 29, after national security operatives formally requested a meeting with him. He was subsequently conveyed in a pickup vehicle to the Ashanti Regional Police Command, where he remains in detention for further interrogation.
This arrest comes barely six weeks after a similar operation on May 15, during which security personnel attempted to retrieve state-owned vehicles allegedly under his possession, although he was unavailable at the time.
Investigations into his management of GIHOC have intensified following reports of alleged financial impropriety, including the unauthorised sale of company assets and questionable vehicle acquisitions.
According to an anonymous source close to the probe, “Mr. Jumah is facing scrutiny over allegations of financial impropriety, including the unauthorised sale of assets and questionable vehicle acquisitions during his tenure at GIHOC Distilleries.”
The development has raised eyebrows within the business community, as GIHOC Distilleries remains one of Ghana’s strategic state-owned enterprises producing alcoholic beverages for domestic consumption and export. Analysts say that continued governance controversies within SOEs risk undermining investor confidence, particularly in sectors where state and private partnerships are critical for growth.
Meanwhile, national security officials are yet to issue an official statement on the arrest.
Stakeholders are calling for a thorough and transparent investigation to ensure accountability and restore public confidence in the management of state-owned enterprises. As the probe unfolds, business leaders caution that Ghana’s broader industrialisation goals depend heavily on the operational and governance integrity of companies like GIHOC Distilleries.
