“When We’re Happy or Sad, We Drink – So Why Is GIHOC in Debt?” – Mahama Questions Losses

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President John Dramani Mahama has raised eyebrows with a sharp critique of GIHOC Distilleries, questioning how the state-owned alcohol producer could be recording massive financial losses despite the high consumption of alcohol in Ghana. His remarks came during the 2025 May Day celebrations held at Independence Square in Accra.

Mahama’s Comments Spark Public Interest

GIHOC Distilleries recorded losses
GIHOC Distilleries

Mahama humorously but pointedly remarked, “When Ghanaians are happy, we drink. When we’re sad, we drink. When we’re neither happy nor sad, we still drink. So how can you sell alcohol and be in debt?”
He noted that during his administration, GIHOC was profitable and thriving — a far cry from its current financial state.

GIHOC’s Reported Financial Losses

According to the Minister of Finance, Dr. Cassiel Ato Forson, GIHOC Distilleries recorded a loss of GH₵25.1 million in 2022 and an additional GH₵25.5 million in 2023. These figures were among the reported losses by several state-owned enterprises (SOEs), sparking calls for reforms and accountability.

Call for Efficiency and Oversight

Mahama urged workers and stakeholders in SOEs to take active roles in safeguarding public enterprises from mismanagement. He stressed that these companies, including GIHOC, should be contributing to national development — not draining public funds.

Reflections

The president’s candid remarks have reignited conversations about financial mismanagement within Ghana’s public sector, especially in high-demand industries like alcohol. His comments continue to trend on social media, raising pressure on GIHOC and the government for answers.

Also Read: May Day Special: Top 7 Lucrative Informal Jobs in Ghana You Shouldn’t Overlook

Author

  • Daniel Ablordey

    Daniel Ablordey is a Business Analytics student at the University of Ghana Business School and an emerging strategist at the intersection of data, markets, and narrative. With a keen analytical mind and a passion for African business and economic trends, he is building a career focused on translating complex data-driven insights into accessible, decision-relevant stories that matter.

    As a writer and editor with Insight Ghana, African Business Insight, and The African Journal, Daniel delivers sharp, high-impact analysis on current affairs, business developments, and emerging trends across the continent. His work is defined by precision, clarity, and a deep commitment to responsible journalism — ensuring that every story he tells is not only accurate but meaningful to the audiences it serves.

    Beyond his editorial work, Daniel serves as an Ecobank Youth Ambassador, where he actively promotes financial inclusion, digital banking, and financial literacy among young Ghanaians. His leadership experience spans academic, professional, and faith-based institutions, where he has consistently driven initiatives centered on growth, structure, and long-term impact.

    Grounded in the principles of Pan-Africanism and service, Daniel brings a rare combination of analytical rigour and storytelling depth to his work. Whether unpacking market behavior, profiling emerging business leaders, or covering cultural shifts shaping the continent, he approaches every assignment with strategic intent and editorial integrity.

    His broader ambition is to contribute to Africa's transformation by shaping how data, business, and storytelling intersect — not just locally, but on a global stage.

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Daniel Amenyo Ablordey
Daniel Ablordey is a Business Analytics student at the University of Ghana Business School and an emerging strategist at the intersection of data, markets, and narrative. With a keen analytical mind and a passion for African business and economic trends, he is building a career focused on translating complex data-driven insights into accessible, decision-relevant stories that matter.

As a writer and editor with Insight Ghana, African Business Insight, and The African Journal, Daniel delivers sharp, high-impact analysis on current affairs, business developments, and emerging trends across the continent. His work is defined by precision, clarity, and a deep commitment to responsible journalism — ensuring that every story he tells is not only accurate but meaningful to the audiences it serves.

Beyond his editorial work, Daniel serves as an Ecobank Youth Ambassador, where he actively promotes financial inclusion, digital banking, and financial literacy among young Ghanaians. His leadership experience spans academic, professional, and faith-based institutions, where he has consistently driven initiatives centered on growth, structure, and long-term impact.

Grounded in the principles of Pan-Africanism and service, Daniel brings a rare combination of analytical rigour and storytelling depth to his work. Whether unpacking market behavior, profiling emerging business leaders, or covering cultural shifts shaping the continent, he approaches every assignment with strategic intent and editorial integrity.

His broader ambition is to contribute to Africa's transformation by shaping how data, business, and storytelling intersect — not just locally, but on a global stage.