The Managing Director of Metro Mass Transit Limited, Kale Cesar, has disclosed that he assumed office at a time when the company was grappling with a deep financial and operational crisis, with liabilities now exceeding GHC200 million.
Speaking on Metro TV’s Good Afternoon Ghana on Wednesday, March 18, Mr. Cesar indicated that the extent of the debt was significantly underestimated at the outset.
According to him, initial figures suggested a liability of about GHC135 million, but a comprehensive review later revealed that the actual debt burden had risen beyond GHC200 million.
He further revealed that the company had failed to meet its statutory obligations for years, including the non-payment of pension contributions. He described the situation as unlawful, stressing that it is an offence to deduct employees’ retirement contributions without remitting them to the appropriate authorities.
Mr. Cesar noted that steps have now been taken to address the issue, with management beginning to settle both outstanding arrears and current pension payments.
The Social Security and National Insurance Trust (SSNIT) had earlier taken legal action against the company over the default. However, he explained that following negotiations, the penalties imposed were subsequently waived.
