She said even though the previous board had worked to improve the financial fortunes of the company, there was much to be done to put the company on a better financial pedestal.

Mrs Osei-Asare said this in Accra yesterday during the inauguration of the reconstituted board of directors of the company.

The eight-member board chaired by Major (Rtd) Daniel Sowa Ablorh-Quarco who has been retained, has other members as Mr Abraham BinapadamJawol, Mr Dennis FrimpongAgyebeng, Madam Maria Aba Lovelace-Johnson, John Matey, Mr Robert A. Baidoo Jnr, MrOuboorKutando and Mrs Juliana Addo-Yobo.

 Mrs Osei-Asare said the Ministry of Finance was working together with SIGA to provide the company the necessary support to thrive.

She congratulated the members of the board for their appointment, stressing that “Your appointment is based on your individual relevant experiences, knowledge, skills and competencies.  The Ministry expects these combined qualities to inure to the benefit of Ghana Supply Company Limited. The confidence reposed in you is expected to reflect in your delivery in making the Ghana Supply Company a profitable and self-sustaining SOE.”

She said the Ministry recognised the significant strides chalked in the last five years by the company especially in the areas of corporate governance and finance.

“Today, the narrative is changed and the company can look forward to a brighter and fulfilling role.  The last board took up the challenge and helped revive the fortunes of the company.  There is still a lot of work ahead that need to be done,” Mrs Osei-Asare said.

She entreated the new board to set off work with determination to bring the Ghana Supply Company Limited back on its feet, with a new vision of achieving efficiency and productivity.

“The Government believes that this new Board has the capacity to help steer affairs of the company by building on the foundations laid over the past few years to turn things further around,” MrsOsei-Asare said.

The Deputy Minister of Finance urged the board to work in line with the Public Procurement Act of 2003 (Act 663) and the Amendment Act (Act 914), stressing that “Accountability in all the supply activities of the company must follow the acts to ensure transparency, fairness, competition and value for money.” 

Major (Rtd) Ablorh-Quarco in his remarks pledged that the board would work to bring back to its former glory.

He entreated the government to reserve at least 30 per cent of government procurement business to Ghana Supply Company to help the business survive.

Major (Rtd) Ablorh-Quarco said the board would follow up the new strategic plan the company developed in 2019 but could not be implemented due to the COVID-19 pandemic.