The Data Protection Act, 2012 is a legislation enacted by the Parliament of the Republic of Ghana to protect the privacy and personal data of individuals.
Yesterday President and Chairman of Groupe Nduom (GN), Dr. Papa Kwesi Nduom, released a list of companies and individuals indebted to his investment firm, Gold Coast Fund Management (GCFM).
The move by Dr. Nduom to expose the personal data of his customers is a testament to the effect the financial sector clean-up is having on his businesses.
In the opinion of this newspaper, even if as a country, we do not have Data Protection Act, putting peoples’ credit worthiness data out in the public space is most likely going to cause distress to customers.
The company may also be breaching their privacy by this action, which is key to the sustenance and buoyancy of the financial sector.
This newspaper supports every action by Dr. Nduom to get back his money, but an action as this, will scare away future customers, who will want to do business with him.
As a newspaper, we do not know the facility each customer took or their offer letter, it could be that, the agreement was failure to meet their obligations, Gold Coast Fund Management, can go ahead to publish their names.
In all over 4200 companies, including secondary schools, individuals, pastors, and other professionals are indebted to Goldcoast Fund Management (GCFM) to the tune of over GH¢423 million.
By the publication, is Dr. Nduom saying that, all the 4200 companies have failed to meet deadline, and have defaulted?
O’Reilly Senior High School (SHS) is captured in the list with a debt of 3.5million Ghana cedis. This newspaper is not surprised by this development, because since the introduction of Free Senior High School policy, government has not made good its obligation to the schools, as far its subvention for administrative, as well as other expenses are concerned.
All public SHSs are heavily indebted to their suppliers, all the government, has been consistent in supplying is food to feed the students, as for other consumables which helps in the smooth running of the schools, that have not been forthcoming.
Although, we might be wont to question the appropriateness of the move by GCFM, however, if the company itself is a matter of public scrutiny and exposure, such privacy rights may not be upheld.
A lot is expected from the government in the drive to bring to save the situation at GCFM and bring it to manageable level.
The challenges the company is going through, have been heightened because of government indebtedness to contractors.