WAEC and others collapsing Ghana Post
For some time now, Ghanaians have been questioning the relevance of the Ghana Post Company Limited, since it is not generating enough income to thrive and stay relevant in this technological world.
The recent Auditor General’s Report has listed over 100 companies that owe the Ghana Post a total amount of GH¢1.5m for Express Mail Service (EMS) and Bulk Mail provided to them.
The report indicated that an amount of GH¢514,889.64 Bulk Mail services provided were in arrears, while GH¢999,542.19 of EMS services provided to these companies have not been paid.
Some of the companies owe as much as GH¢5000 of either Bulk mail or EMS service they got from Ghana Post.
For the Bulk Mail, the Judicial Service, an ambit of the Ministry of Justice and Attorney General owes GH¢17,863.52 whilst the West Africa Examination Council (WAEC) was reported to owe Ghana Post to the tune of GH¢4,543.41.
The Kaneshie branch of the Ghana Revenue Service was captured to owe the company and amount of GH¢ 2,331.90 with Ghana Prisons Service following with a debt of GH¢1,673.80.
With regards to EMS services, some known public institutions that were captured in the report were; Accountant General, Ghana Water Company, National Board for Small Scale Industries (NBSSI) now Ghana Enterprises Agency, GET FUND, National Health Insurance Scheme and the National Lotteries Authority.
Some private institutions who were mainly financial institutions were Dalex Finance, HFC Bank, Agricultural Development Bank, Cal Bank and ARB Apex Bank.
Non-financial private institutions include;Kasapreko and Total Petroleum.
Some religious organisations also found themselves in this unfortunate situation and they include the Catholic Relief Services, Latter Day Saints and Methodist Book Depot.
International organisations were not left out of the tall list of debtors, they include United Nations Children’s Fund (UNICEF) and World Vision, which were captured in the report to have been indebted to the tune of GH¢27, 122.76 and GH¢67,396.89 respectively.
According to the report, the indebtedness of these companies makes it difficult for Ghana Post to operate smoothly and the situation forces management to go for loans in order to stay in business.
“Failing to recover moneys owed the Company makes it difficult for the company to operate as Management would be compelled to rely on expensive bank loans to stay afloat.”
The Audit Report, therefore, urged Management of the company to be proactive in the recovery of debts in order to boost its revenue and enhance operations.
Meanwhile, a scrutiny of the report by The Chronicle comes to confirm the complaints and lamentations made by the Managing Director of Ghana Post, Mr James Kwofie, during a Public Accounts Committee hearing in 2017, when he assumed the office.
Mr Kwofie, who was questioned as to why Ghana Post was not thriving indicated the Post was not commercially viable.
He said at the time that about 100 branches had been closed down because they were not making enough money to cover their cost of operations.
The 2020 AG report, which was released last week, captures the accounts of Public Boards, Corporations and other statutory institutions for the period ended December 2020.
It was prepared under Section 11 of the Audit Service Act, 2000 ( Act 584).
The report forms part of eleven other reports that the Audit Service submitted to Parliament.The report under consideration highlights financial irregularities identified and resulting from breakdown of internal controls from the Ministries and their corresponding institutions and boards.
The Ghana Post Company Limited was one of the organisations under the Ministry of Communication that was cited for irregularities.Share on Facebook Share on Twitter Share on Pinterest