Former SIC MD Hollistar Duah-Yentumi Sues Company Over Dismissal

Accra, Ghana – February 5, 2025 – The immediate past Managing Director of SIC Insurance Company Limited, Ms. Hollistar Duah-Yentumi, has filed a lawsuit against the company and its newly appointed MD, James Agyenim-Boateng, challenging her removal from office.

President John Dramani Mahama announced Mr. Agyenim-Boateng as her successor on January 27, 2025, but in a February 4 suit, Ms. Duah-Yentumi rejected the decision, arguing that it violates her employment contract.

Grounds for the Lawsuit

In her filing, Ms. Duah-Yentumi contends that:

1. Her contract, signed with SIC, grants her a four-year tenure that expires on January 1, 2028, unless terminated by the Board of Directors or shareholders at an Annual General Meeting.
2. The unilateral termination of her employment by the government is a breach of contract since only the SIC Board or shareholders have the authority to remove her.
3. The appointment of Mr. Agyenim-Boateng as her replacement is unlawful.

Legal Demands

Ms. Duah-Yentumi is asking the High Court to:

• Declare her removal unlawful and in breach of her contract.
• Invalidate the appointment of Mr. Agyenim-Boateng as MD.
• Order SIC to pay her full salary and benefits for the remainder of her four-year term.

The case is expected to be closely watched, as it could set a precedent for corporate governance and executive appointments in Ghana’s state-owned enterprises.

Below is the full suit