Hollistar Duah-Yentumi Wasn’t Qualified for SIC MD Role – Ex-shareholder Claims

A former shareholder of the State Insurance Company (SIC), Larry Kwesi Jiagge, has disclosed that he was strongly opposed to the appointment of Hollistar Duah-Yentumi as the company’s Managing Director from the beginning.

Speaking on Joy FM’s Super Morning Show, Jiagge, a lawyer and chartered insurer, stated that he contested her appointment on multiple grounds, including concerns over her qualifications.

“As a person, I have always contested her appointment—first as a Ghanaian, secondly as someone informed about the provisions of her job, and thirdly as a shareholder,” he emphasised.

Frustrated by the regulator’s inaction, Jiagge revealed that he sold his shares in SIC, valued at approximately GHS 200,000, after his petition challenging Duah-Yentumi’s eligibility was ignored.

“I must specifically say that I sold my shares because the regulator refused to act on the petition I submitted to them,” he added.

Jiagge cited Section 55 of the relevant regulations, arguing that Duah-Yentumi did not meet the necessary qualifications for the position.

“We cannot keep violating laws that we create for political expediency. That was my position,” he stressed.

Meanwhile, Duah-Yentumi, who was recently dismissed, had filed a lawsuit contesting her removal and the appointment of James Agyenim-Boateng as the new Acting Managing Director. However, she has since withdrawn the case.

Jiagge has now called for a forensic audit of SIC, particularly concerning the allocation of business to a specific company, urging greater transparency and accountability in the company’s financial dealings.

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