In the matter of SIC, the former MD is right—Dr. Steve Manteaw

Dr Steve Manteaw is of the view that in the matter of the State Insurance Company, the Chief Executive Officer is right.

He believes that due process was not followed in the termination of her appointment, and therefore whatever action is being taken by her must be respected.

Making this position known in a post shared via social media, he said “In the matter of SIC, the former MD is RIGHT. Due process was not followed”.

Dr Steve Manteaw had earlier indicated that the government had no right to appoint a managing director for a company that is listed.

Background

The immediate past Managing Director of SIC Insurance Company Limited, Ms. Hollistar Duah-Yentumi, has filed a lawsuit against the company and its newly appointed MD, Mr. James Agyenim-Boateng, challenging what she describes as the unlawful termination of her contract.

Ms. Duah-Yentumi, who was replaced following a presidential appointment on January 27, argues that her tenure was contractually set for four years, expiring on January 1, 2028.

According to her suit, the termination of her employment did not follow due process, as it should have been decided by the company’s Board of Directors or all shareholders at an Annual General Meeting.

In addition to seeking a declaration that her dismissal was unlawful, Ms. Duah-Yentumi is demanding full payment of her salary and benefits for the unexpired term of her contract. These benefits, as outlined in her lawsuit, include:

• A monthly salary of GHS 70,000
• Payment of Social Security and National Insurance Trust (SSNIT) and provident fund contributions
• Official accommodation or an equivalent allowance of GHS 15,000 per month
• A 10% annual basic salary increase
• Membership fees for professional and social clubs
• Health insurance coverage for her and her family
• Provision of an official vehicle and fuel allowance of 450 litres per month
• Severance benefits, including six months’ salary for every year of service if terminated before contract expiration

Ms. Duah-Yentumi insists that her employment contract is legally binding and seeks a court order to enforce its terms. The case is now before the High Court, where the legal battle over SIC Insurance’s leadership transition continues.

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