The Acting Managing Director of SIC Financial Services Ltd (SIC-FSL), Dr. Sa-ad Iddrisu, has announced a 20% salary cut for himself and all staff of the company.
The 20% salary cut is effective in October 2025.
This was contained in a statement issued by Dr. Iddrisu, which explained that the decision forms part of a broader cost-cutting strategy with the objective of reducing operational expenses and reviving the company’s fortunes.
“As part of efforts to salvage SIC-FSL and bring it back to glory, Management has decided to cut the Managing Director’s and all staff salaries by 20%, effective next month, October 2025,” the statement read.
Dr. Sa-ad Iddrisu assured clients and the general public that SIC-FSL remains operational and committed to introducing new financial products by the end of the fourth quarter of 2025.
Dr. Iddrisu also acknowledged the frustrations of existing clients whose funds have been locked since the 2022 economic crisis, pledging that the company is seeking government support to settle outstanding obligations.
Meanwhile, he has also appealed to contractors and SMEs who owe the company to pay their loans once they receive their payments from the government.
Below is the official statement
By: Rainbowradioonline.com/Ghana