Legal Questions Arise Over Ghana Insurance Chief's Removal.
The Ghana government is being questioned about its power to remove the head of SIC Insurance without first asking other owners. Laws say the company's shareholders must vote on such changes.
SIC Insurance is a business registered under Ghana's Companies Act of 2019. The firm started as a state group but changed into a business selling shares. It lists these shares on the Ghana Stock Exchange.
The rules say no single group can fire a director without the other owners' agreement. The government owns 40% of SIC shares, and another state group, the Social Security and National Insurance Trust, holds 11.82%. These numbers mean the government might win a vote to remove Hollistar Duah-Yentumi from her job.
Past governments often removed company heads without asking others. This case might change the old way of doing things. It could require companies to follow better business rules.
Duah-Yentumi wants money in her case against SIC. She asks for pay she would have earned if she had kept working, plus other benefits. She does not want her job back.
The fight started when she would not give up her office to James Agyenim-Boateng. President John Dramani Mahama picked him as the acting head on January 24, 2025. Duah-Yentumi, who came in under the New Patriotic Party's time, locked her office. This has made it hard for the company to work as usual.
The case has made people think more about how state-owned companies should pick and remove their leaders. Courts must decide what happens next.
The Ghana government is being questioned about its power to remove the head of SIC Insurance without first asking other owners. Laws say the company's shareholders must vote on such changes.
SIC Insurance is a business registered under Ghana's Companies Act of 2019. The firm started as a state group but changed into a business selling shares. It lists these shares on the Ghana Stock Exchange.
The rules say no single group can fire a director without the other owners' agreement. The government owns 40% of SIC shares, and another state group, the Social Security and National Insurance Trust, holds 11.82%. These numbers mean the government might win a vote to remove Hollistar Duah-Yentumi from her job.
Past governments often removed company heads without asking others. This case might change the old way of doing things. It could require companies to follow better business rules.
Duah-Yentumi wants money in her case against SIC. She asks for pay she would have earned if she had kept working, plus other benefits. She does not want her job back.
The fight started when she would not give up her office to James Agyenim-Boateng. President John Dramani Mahama picked him as the acting head on January 24, 2025. Duah-Yentumi, who came in under the New Patriotic Party's time, locked her office. This has made it hard for the company to work as usual.
The case has made people think more about how state-owned companies should pick and remove their leaders. Courts must decide what happens next.
