A former director of the Ghana Film Industry Corporation (GFIC), Ernest Abequaye, is seeking answers as to why government sold the company.
Seventy percent of GFIC’s equity was sold to Sistem Televisyen Malaysia Berhad of Kuala Lumpur, a Malaysian company in 1996.
The divestiture was intended to have the Malaysian company manage and elevate the status of the film industry for 15 years and later transferred GFIC to government.
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However, a year after the transfer to government, the Corporation was sold to a private entity
In an interview on Joy FM’s Showbiz A-Z with Naa Ashorkor last Saturday, the former GFIC Director could not state exactly why GFIC was sold and would rather the host directed the question to government.
“With all due respect, I will say ask the person who sold it and the person who bought it,” he said.
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Mr Ernest Abequaye who said the Corporation was sold for “scrap” added that he can’t fathom the sale of GFIC after the supposed 15 years “improvement” by the Malaysian company.
“Strangely, one year after they have built, operated and transferred, we got the information that Ghana Film was so broke that it had to be sold,” he revealed.
“[For] that I can’t comprehend…I don’t know…the people who had the authority decided. I am in no position to contend that,” he continued.
The former Director of the Ghana Film Industry Corporation pleaded with Joy FM to investigate and bring to the fore the reason for the sale.

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