The management of the Ghana Shippers Authority appeared before the Public Accounts Committee of Parliament yesterday to address concerns raised by the Auditor General’s report.
The committee commended the authority’s financial performance, noting a 93% improvement in surplus from GH¢30 million to GH¢59 million.
However, they sought clarification on the source of the “other incomes” contributing to this surplus. The head of finance explained that it was mainly due to exchange gains from translating financial assets.
Regarding debt collection, the auditors noted that 101 shipping companies owed the authority and the Ghana Maritime Authority a total of GH¢52,503,004, with GH¢26,251,707 being overdue.
The management, represented by the Director of Business Development and Commercial Services, Samuel Akoh, Internal Auditor, Isaac Kesiakwe, Head of Finance, Joseph Assabil, reported that they had taken steps to recover the debts, including sending notices, engaging the Registrar General’s office, and hiring a lawyer. They claimed to have collected over GH¢12.5 million so far.
The committee inquired about the status of the debt collection, specifically whether the GH¢12.5 million collected was from the overdue amount or the total debt.
The management clarified that they were focusing on the 50% share of the debt owed to the Ghana Shippers Authority, which amounted to GH¢26.2 million, and had collected GH¢12.5 million from that portion.
The committee expressed concerns about the lack of a policy on debtors and impairment of overdue debts, to which the management responded that they had developed an accounting manual with measures to address these issues.
By Ernest Kofi Adu, Parliament House