As one of its investments,SSNIT has invested in a project called Ghana Industrial and Commercial Estate Limited (GICEL) situated at Weija along Kasoa Road about two and halve decades ago.
A project with SSNIT as wholly shareholder. (One hundred percent shareholder).
The concept is LIGHT – INDUSTRIAL ESTATE, which seeks to develop and promote SMEs, popularly known as ARTISAN VILLAGE, to be replicated all over the Regions of Ghana.
LACKOF MAINTENANCE. However, ever since its establishment, the facility has never seen any maintenance or refurbishment. Faded paints on the facilities, tore- roofed, dilapidated facial boards and ceilings were the current outlook of GICEL.
ENCROACHMENT. Even before the start of the project, GICEL land was encroach upon by individual developers with impunity. Till today we have not seen any critical actions on this menace by the managers of our SSNNIT Funds. (Legal action)
GICEL IN FLOODS. Individual developers who encroached GICEL land with impunity have not only deprived the owners of the project from their own property but created perpetual flooding situation on the enclave rendering GICEL Tenants and business community losing their businesses anytime it rains. Most of their properties are lying conspicuously on the drain. One particular property that’s is heavily situated on the drain, blocking all waters from direct flow, and become wonton headache, worrying GICEL Management and Tenants one hotel called ‘NICOLSPALACE (Restaurant and Hotel). This property which is in the first place a supposed GICEL piece of land is directly built on the main waterway.
The situation is absolute nuisance, utter disdained and perpetual catastrophe of its kind and must be condemned. The question is where are the owners of GICEL? Have they forsaking the project? Because owners are not visible in times of such difficult moments, Tenants and individuals attempt to find out who the cause is, and what are the possible remedies or solutions. The only information available one can tumble on is the Municipal Assemble Authorities and other interested individuals took bribe from the owner of the’ NICOL’s Palace’ and in the domain of grapevine one can hear rumors circulating form his end that ‘even the President of Ghana cannot demolish his building. How can Tenant- Investors in GICEL can break even under this awful business environment?
ROAD NETWORK IN GICEL. GICEL road is deplorable. At the moment we don’t know those responsible for road leading to GICEL. Is for urban roads or SNNIT. Currently we saw a bit of the road being tarred from the checkpoint to a place called ‘one plus one’ junction, about two hundred meters only. Information reaching us revealed that SNNIT would fund the construction of the rest of the road within the Estate. Till now, no sign. Is SSNIT effectively and efficiently managing our funds?
OWNERSHIP OF GICEL FACILITY. There is also this news circulating in the arena of grapevine, that the ownership GICEL FACILITY would soon be transferred to Tenants who lived in the facilities for tenyears and above. This information is gradually and likely becoming true because of the lukewarm attitude of the SSNIT who claimed to be wholly owners of GICEL.
SHOPS/ FACILITIES TURNED INTO WAREHOUSES: Most of GICEL facilities turned into warehouses and depots instead. Some closed down with respective tenants doing business elsewhere. This is contra to the objectives that set up GICEL.It is a complete departure from the original policy, and must be reversed.
Is the suppose owner of GICEL (SSNIT) still operating within the scope of concept that established GICEL. It is captured in the GICEL BLUE PRINT that, GICEL is established as a Light – Industrial area (Estate) to develop and promote S ME’s. The Vision is to provide enabling environment, bringing together artisans for one stop shop provision of common services. It is also to reduce wayside workshops, for example, mechanics,beauticians, tailors and dressmakers among others, hence the name ‘MANUFACTURERSAND ARTISAN VILLAGE’. The simple question is, are the owners implementing or working within the above concept? The answer is no.
Where are the loud voices in our society who are superintending over SSNIT as board members, who metamorphorically doubled as owners of GICEL? We are referring to TUC, the GNAT representatives FINANCE ministry, Security representatives and all meaningful, but respected people in societies serving on the SSNIT Board are. Where is the SSNIT management? Is the Director General aware of what is happening in GICEL? Where are the GICEL boards that are tasked to develop critical policies to transform the deplorable state of GICEL? Where are the Government representatives serving on SSNIT Board? SSNIT should not prove to the public that, they have penchant for neglecting their own investment projects at the detriment of contributors.
MY CANDID OPINION.
1. For our SSNIT funds to be judiciously and effectively invested and yield dividend, we suggest to SSNIT to reduce its stake in GICEL investment by forty percent for Tenants who are interested to invest in GICEL as entity.
2. The owners should release adequate funds on time to meet the emerging challenges, some of which are very critical and are likely to destroy Tenants businesses.
3. GICEL should be sold out rightly to private investor in order for our SSNIT funds to reinvested in alternate profitable ventures
4. Or GICEL be handed over to the Tenants to acquire as has been done by SSNIT in other areas as Dansoman, Sakumonor and more.
5. As a matter of urgency, Flood situation in GICEL be solved in order to save Tenants capital
In conclusion I call on the Board Chairman of SSNIT to ACT NOW to save GICEL from further deterioration as well as save people’s money (SSNIT Contributors). All properties built on the major drain be demolish immediately. All encroached lands are retrieved to save people’s money.
GICEL need a distinct and clear policy as to the path that owners wanted to thread. This is to enable tenant – business community have value for their capitals invested there.
If GICEL is purely a corporate entity let us see it in character, but if it is a social interventional organization, let’s see it in that manner. However if must be a blend of the two, let’s see it so. There must be a paradigm shift per the current state of GICEL.
Source: Teddy Asare (Immediate past Gta Chairman & An Investor).
