African Logistics Faces Bankruptcy
Moseray Fadika who many Sierra Leoneans believe is the most suitable aspirant to clinch the ruling All People’s Congress (APC) presidential candidacy for the February 2018 presidential election has the herculean challenge to revive his dying company – African Logistics – from sinking into the abysmal depth of bankruptcy.
Investigation by this medium has revealed that when the defunct African Minerals Limited (AML) was in buoyant financial position with Moseray Fadika as its Vice President, consignments imported into the country by the company were cleared and forwarded by Red Coat, a reputable international clearing and forwarding agency.
According to inside sources, Moseray Fadika took advantage of his position in the defunct AML to establish African Logistics to take over the clearing and forwarding contract from Red Coat. Instead of relying on Sierra Leoneans to run his company, the former AML Vice President brought in a foreign national from Zimbabwe, Daniel Dtanawa to take over African Logistics as Chief Executive Officer (CEO).
After establishing the African Logistics, Moseray Fadika automatically hijacked the clearing and forwarding contract from Red Coat and eventually started obtaining mouth-watering loans from many commercial banks to boost his company, including Guarantee Trust Bank (GTBank).
Reports are that African Logistics started taking a nose dive when the CEO, Daniel Dtanawa, allegedly defrauded a huge amount of money from the company and Moseray Fadika had no choice but to sack him.
After relieving the Zimbabwean of his duty, the proprietor reportedly brought in this time his own brother-in-law, Muctarr Kamara, to step in as the new CEO, adding that the new CEO made matters worse by obtaining ear-watering loans and failing to comply with NASSIT contribution for workers. The company owes over Le800 million in loans, NASSIT contribution, backlog payment to workers and gratuities and benefits of redundant workers according to report.
When Africa Logistics started facing bankruptcy, report states that the company decided to redundant over 70 Sierra Leonean workers but later had to re-employ just a hand full of them, including the Human Resource Manager, Osman Sankoh.
The current caretaker of Africa Logistics, Abdulai Mansaray, former Bursar of SOS School in Freetown, who is the buddy of Moseray Fadika’s brother-in-law Muctarr Kamara, is allegedly manipulating the caretaker to get detailed information on the operations of the company.
Most workers of the company believe that Moseray Fadika’s decision to appoint his brother-in-law to run the company has resulted to serious indebtedness that will eventually drown the company financially.
Document available to this medium indicates that since African Logistics paid the NASSIT contribution for its workers in August 2013, it had never complied with NASSIT contribution despite the company had been slashing 5% from workers’ salaries over the last three years.
The Human Resource Manager, Osman Sankoh, has also been reportedly conniving with the Sierra Leone Inspection Agency to defraud his own company of 1% of the 4o% the company should receive, all because of personal aggrandizement.
African Logistics is also reported breaking the labour law by paying workers directly on the table instead of through the banks, adding that the company also has huge amount of backlogs it owes to current workers as well as gratuities and benefits of redundant workers.
Moseray Fadika’s brother-in-law, according to report, left Sierra Leone because he was incompetent of solving the company’s mounting problem of indebtedness but the caretaker always keeps him abreast of any financial development in the company.
According to inside sources, whenever money is about to come into the company, the caretaker would promptly inform Muctarr Kamara who would return to Sierra Leone and negotiate for it with the intention of using it frivolously.
Meanwhile, many political analysts have asserted that if Moseray Fadika cannot successfully run a small company like African Logistics, what will be the fate of Mama Salone if he is selected President of the Republic in the February 2018 presidential election.
This medium is still investigating African Logistics and the role of Moseray Fadika in killing his own company. See next edition.
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