The Managing Director of SIC Financial Services Limited (SIC-FSL), Dr Sa-ad Iddrisu has explicitly declared his outfit as a collapsed Government institution.
He disclosed the leading Ghanaian investment firm incorporated in 2005 can no longer pay salaries of it’s workers including him as the head of the organization unless a bailout from the Finance Ministry.
Dr Sa-ad expressed this frustration in a post on his personal Facebook handle in response to the high expectations and demands of members of the governing National Democratic Congress.
He wrote: “Please, if you ask me for help and I am not able to help you, don’t be offended. Try another NDC Northern politician. I am not the only NDC Northern politician.
”Besides, SIC Financial Services Ltd (SIC-FSL) is a collapsed government institution and I can’t even pay my workers their salaries let alone to pay my own salary, until Ministry of Finance gives us a bailout to pay the legacy clients we owe and also to turn the place around positively.”
The Managing Director further lamented no private investor is interested in buying shares in a collapsed government entity at the moment.
Therefore, he admonished the party supporters to lower their expectations on him and turn to other government appointees from the northern region for opportunities.
”Don’t be offended if I can’t help you at the moment. I beg you waaai! he pleaded.
Meanwhile, the SIC-FSL boss last year reduced staff salaries by 20% as part of a cost cutting measure aimed at reducing operational expenses and broader efforts to save the company from collapse.
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