Agbodo and Totobi Clash Over GFIC Diverstiture

The controversy surrounding the divestiture of the Ghana Films Industry Corporation (GFIC) has deepened with the key actors in the exercise refusing to accept responsibilities.

Kofi Totobi Quakyi, former Minister of Information, on whose instructions the GFIC was allegedly divested, has flatly denied his active involvement in the exercise; He insists that Emmanuel Agbodo, former Executive Secretary of the Divestiture Implementation Committee (DIC), is the best man to throw light on the issue.

The GFIC, now housing TV3, was divested to Sistem Television Malaysian Berhad (STMB), owners of TV3 Malaysia at a very ridiculous price. Totobi, the Statesman learnt, told the panel of investigators from the Serious Fraud Office (SFO) that any discrepancies arising out of the divestiture of GFIC should be blamed on the DIC which has the singular duty of divesting state-owned enterprises. But when Agbodo appeared before the panel, he told the investigators that his “hands were tied” as the DIC was not involved in the divestiture of Ghana’s prized assets in GFIC to TV3 Malaysia.

He said to have admitted that documents on the divestiture of Ghana films were not available at DIC. Agbodo’s admission, The Statesman learnt, pins Totobi Quakyi to the wall about the whole divestiture of GFIC, and the role he played as the sector Minister then. SFO sources describe Totobi Quaky’s handling of the GFIC case as despicable.

The involvement of the SFO in the GFIC saga, the Statesman learned, follows complaints from concerned members of the public who believe that Ghana has been cheated. The deal was struck following a visit to Malaysia in August 1996. Totobi Quakyi then Information Minister, negotiated the deal with the STMB, leading to the signing of the divestiture agreement with the DIC.