Kingsley Aboagye Gyedu Chief Executive Officer of VALCO
The Chief Executive Officer of VALCO, Kingsley Aboagye Gyedu, has landed himself in hot water after reportedly throwing a jaw-dropping farewell party for just ten retiring staff members at the upscale Marjorie Y Hotel in Tema. Eyebrows are firmly raised as the cost of the bash allegedly ran into hundreds of thousands of Ghana cedis—a move many see as tone-deaf, given the company’s current struggles.
The extravagant event, held on Friday, December 27, 2024, featured an exclusive guest list that has left many questioning the CEO’s priorities. Why splash the cash on a luxury send-off when VALCO is battling financial instability and a transition team has explicitly cautioned against such reckless expenditure?
Kingsley Aboagye Gyedu’s tenure as CEO is no stranger to controversy. Insiders allege he has handed lucrative contracts to close associates, including a roofing deal awarded to a family member and a Christmas package contract given to the Finance Director. His reign has also been clouded by accusations of politically motivated sackings, with workers suspected of NDC affiliations reportedly shown the door.
Now, as VALCO’s financial woes deepen, many are pointing fingers at his “wanton disregard” for the transition team’s directives. The team has been vocal about the need to curb excessive spending, but it seems the CEO is determined to march to his own beat.
In a twist that could rival a political thriller, some NDC members within VALCO are allegedly scheming to help Aboagye Gyedu retain his position under the incoming NDC government. Despite his well-documented allegiance to the NPP, he is said to have been paraded before NDC Regional and National executives in a desperate bid for their endorsement.
Critics are livid, questioning how an NPP loyalist can be trusted to uphold the principles of probity and accountability under an NDC-led administration. Skeptics argue he’s unlikely to investigate alleged corruption under former CEO Titus Glover or offer job opportunities to NDC loyalists at VALCO.
With the company’s reputation on the line, questions abound: Will Kingsley Aboagye Gyedu manage to retain his position amid these swirling scandals? Is this the kind of leadership VALCO needs as it navigates turbulent financial waters? And most importantly, will the company ever break free from the shadow of corruption and cronyism that has dogged its management for years?
The clock is ticking for VALCO and its embattled CEO, and Ghanaians are watching closely. One thing is certain—this story is far from over.
Exclusive by Bountrous Andy, Tema
About The Author
