GCB WORKERS FIGHT MD OVER ‘CHOP-CHOP’ -GHC60, 600 rent allowance, others to cause revolt


Photo ReportingGCB WORKERS FIGHT MD OVER ‘CHOP-CHOP’ -GHC60, 600 rent allowance, others to cause revolt

17 September 2013

The National Consultative Council of the Employees Union of the Ghana Commercial Bank, the second highest decision making body of employees of the bank, has protested vehemently against the running down of the bank by the Managing Director.


The protest against the management of Simon Donoo is contained in a letter sent to President John Dramani Mahama, through the Minister of Finance and Economic Planning.

The letter dated September 5, 2013, a copy of which is in the possession of the New Statesman, says there is “heightened tension in the Bank, low morale, insecurity, suppression of employees’ career aspirations within the bank” and warns that “a popular revolt is imminent against the Managing Director if urgent action is not taken.”

The employee body explains that Mr Donoo, who was appointed by the late President John Atta-Mills on March 4, 2010, has defied a directive by the Board of Directors of the Bank, as well as contents of his engagement letter, to award for himself a whopping GHC60,600 as annual rent allowance. The allowance is 20 per cent of his annual salary of GHC303, 000.00.

According to the workers, the former Board Chairman of the bank, Prince Kojo Thompson, insisted that Mr Donoo should move into his official accommodation, which was renovated and refurbished at a huge cost to the bank. But he refused to do so.

“The engagement letter of the MD made him entitled to official accommodation and not 20% of his annual salary as rent allowance. The bank has official accommodation for the MD and of course, the former MD resided in it until his retirement,” the letter states.

The NCC letter continues, “The current MD’s preference was to be given 20% of his annual salary (GH¢303,000) as rent allowance which amounts to GH¢60,600.00 per year. This also means that the MD receives GH¢5,050 as rent per month.”

According to the letter, upon the dismissal of the Mr Kojo Thompson, Mr Donoo “had his way” and started receiving the GH¢60,000 rent allowance plus an additional amount of GH¢166,000 which was an accumulation of his rent arrears spanning the period when he was stopped from taking the rent allowance by Mr Thompson.

The group indicated that GCB “has suddenly become a manipulative gadget in the hands of the Managing Director who sees himself far above everybody, including the Board of Directors and it is about some few individuals who are milking the bank whiles the masses wallow in misery.”

The National Consultative Council also vented their spleen against the disparities in rent allowance of the MD, as against those of other workers in GCB and in other banks as well.

The group wondered why Mr Donoo’s rent allowance for a month should be greater than the rent allowance of a Chief Manager for a whole year.

“Why should a senior clerk (B3) in ADB receive rent allowance far more than a Chief Manager in GCB? A chief manager’s rent allowance for a year is about GH¢3,664 whiles the rent allowance of the MD for a month is GH¢5, 050,” the group noted.

“Why should the utility allowance of the MD for a year be almost the same as the annual salary of a clerk? Why should the MD’s rent allowance for a year be far more than the annual salary of a full manager and almost the same as a senior manager? Staff off GCB feel short-changed,” the group stated.

The NCC letter further alleged that management of GCB pays between $1,500 and $2,000 per month for the accommodation of individuals whilst “others get a meagre GH¢65.00 per month.”

These and many more, according to the group, will make staff of GCB stage a revolt.

“We have been cheated for far too long and the bank will soon sink if a strategic national asset like GCB is managed in this manner,” the group warned.

The letter to President Mahama was copied to the Chief of Staff, the National Security Coordinator, the Governor of the Bank of Ghana, the Board Chairman of GCB, the Managing Director of GCB, the Secretary General of the Trades Union Congress, the General Secretary of UNICOF, and the Chairman of PMSU.

The New Statesman will bring readers further details of the contents of the letter by the NCC in subsequent publications.

Source: The Statesmanonline



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