President John Mahama spoke candidly about what he called the “most regrettable experience” of his life on Saturday, April 19, at the Kwahu Business Forum.
An unsuccessful attempt to get a family member to start a company.
Sharing insights from his own life, Mahama described how, in an attempt to alleviate the financial strain he was under as a Member of Parliament, he once bought a bus for a cousin to operate a modest transportation business.
But the endeavor ended up being an expensive error rather than a way to alleviate his difficulties.
He said that the bus’s poor management and frequent overloading caused the mechanical breakdown. He clarified that what was supposed to be a source of revenue turned into a continual financial burden when the vehicle’s axle finally snapped from the pressure.
In the end, Mahama said, it cost him more to maintain the bus than if he had just donated the money, explaining how maintenance became costly and frequent.
When he found out that the driver, a family member who lived in his family home, was using company money to construct a personal home, things became worse. That home is still incomplete today.
In the end, the President decided to cut his losses and sell the bus.
Ever since I sold the bus, that building, which had reached the lintel level, is still at lintel level—even today.
Source: Dklassgh.com