Family Dispute Over Yeboah Afihene Industries Ltd Escalates
From Ernest Best Anane, Kumasi
A high-stakes family dispute has erupted over Yeboah Afihene Industries Ltd, a Kumasi-based company established in 1969.
The company, known for manufacturing metal furniture for homes, schools, and healthcare facilities, is currently embroiled in a contentious battle between family members.
The dispute centers around the ownership and management of the company. Afihene Sarfo, also known as Kwabena Sarfo Kantinka, Head of the Afihene family, claims that the company is being unfairly controlled by one individual, who is preventing other family members from accessing their goods and locking up company-owned shops and warehouses.
The family alleges that Kwame Assuamah, the elderly son of the company’s founder, has mismanaged the company since the founder’s death in 2010.
Mr. Assuamah is accused of using company funds for personal gain, appointing his wife and brother-in-law as directors without the consent of other family members, and changing company information without authorization.
Mr Sarfo Kantinka, the Family Head disclosed that the Commercial Court has ruled against the board of directors, dismissing Assuamah’s attempts to assert control over the company.
Despite this, Assuamah allegedly continues to take money from tenants and prevent other shareholders from entering the company’s premises.
The Afihene family has sought the intervention of the Otumfuo Osei Tutu II, the Asantehene and President John Mahama and the National Security, citing the need for a resolution to the dispute.
The family’s lawyer has expressed concerns about the potential consequences of the dispute on the company’s operations and the livelihoods of its employees.
The dispute is currently before the Commercial Court, with the family seeking a resolution that will ensure fair management and ownership of the company.
He noted that the outcome of the case is eagerly awaited by the company’s shareholders and the wider business community
