ELIJAH NIMFAM

• RESPONSIBILITIES:
• Responsible for achievement of the overall financial objectives of the Group (thus, STC Ghana, STC Cote’ Ivoire, STC Togo, STC Benin and STC Burkina Faso).
• Formulation and review of Group financial policies including cost control strategies.
• Formulation and regular review of Group Internal controls.
• Treasury Management.
• Investment appraisals and Cash flow projections for the ISTC Group.
• Sourcing and recommendation of appropriate financing for investment projects.
• Financial negotiations.
• Advisor to the ISTC Group Managing Director and Board of Directors on all financial matters.
• Timely preparation of Group and Subsidiary Company’s Statutory Financial Statements for both internal and external auditors in accordance with disclosure requirements of IFRS, Company’s Act, Ghana Revenue Authority Act, Internal ISTC Policies, Public Financial Management Act and Francophone reporting standards.
• Timely preparation and presentation of ISTC Group Annual Budget to Management and Board of Directors.
• Ensure adherence to Budget at all levels.
• Repatriation of Subsidiary profits.
• Signatory to all ISTC Group main bank accounts.
• Supervision of duties of subordinate staff in Ghana, Cote d’Ivoire, Benin, Togo and Burkina Faso.
• Member of Entity Tender Committee of the ISTC Group.
• Preparation of monthly financial and management Accounts reports to the Board.

• ACHIEVEMENTS
• Successfully climbed the ladder to Divisional Head at age 28 being the youngest since inception of STC.
• Finance team lead in securing loan of USD13million from financial institution and supplier’s credit facility of USD4.5 million for acquisition of 100 buses. This, being the first in the history of STC as buses are usually acquired by shareholders.
• Negotiated savings of USD1.5 million on interest charges and letters of credit fees on the 100 buses.
• Successful preparation of 9 years Financial Statements in accordance with IFRS from 2012 to 2020 within my 4 years as GM, Finance & Accounts.
• Preparation of business proposals to the Board and Shareholders for equity injection of GHS10 million in 2021 and GHS40 million subsequently. The last equity injection prior to this was in 2010.
• Successful Management of Income generation and disbursement of funds up to USD80 Million over the last 5 years as GM, Finance & Accounts.
• Successful introduction and implementation of online payment platforms for revenue collections since 2019.
• Provision of effective leadership and supervision of about 50 staff made up of 1 Chief Accountant, 1 Management Accountant, 1 Treasurer, 4 subsidiary company’s Accountants, 10 Regional Accountants, 8 Senior Account Officers and 26 Account Officers.
• Filing for Tax Amnesty in 2018 saving the Company huge tax penalties from 2010 to 2017.
• Servicing of Government of Ghana on-lent loan to STC from April 2018.

• Set up and improved accounting systems and processes to meet business needs and maximize operational success.
• Reviewed business operations and obligations to help organization function at acceptable level.
• Handled month-end and year-end end finances by managing and reporting fixed assets and other data.
• Oversaw accounting team in servicing diverse clients.
• Preparation of monthly and annual financial reports for review
• Implementation of financial policies and controls
• Authorization of transactions in accordance with policy
• Monthly review of Subsidiary, Regional and Station Accounting and Tax returns
• Quarterly review of Subsidiary Companies Accounting and Tax returns
• Filing of statutory returns
• Receivables and payables management

• Preparation of financial analysis and presenting findings to management.
• Identified past financial trends, performed risk management and predicted future outcomes and needs.
• Controlled and forecasted incomes and expenditures.
• Supervised team of accounting technicians, liaising between colleagues and management.
• Timely preparation of monthly Management Accounts for management decisions.
• Assist with preparation of Annual Budget, Business proposals and Investment appraisals.
• Monitoring of Budget revenues, expenses, CAPEX and reporting variances at Subsidiary level, Departmental level, regional level, Station level and agency level.
• Monitoring performance of outsourced services.
• Reviewing and authorizations of all accountable imprests.
• Monitoring organizational efficiency (thus, Revenues, operational efficiency, bus efficiency, driver efficiency, fuel efficiency, maintenance efficiency etc.)

ADDITIONAL POSITION HELD WHILE IN SUBSTANTIVE POSITION AS MANAGEMENT ACCOUNTANT:

• Acting Head of Procurement department ( January 2015 - December 2016): Responsible for overall oversight of the procurement function of the ISTC Group in line the PPA and ISTC Procurement procedures. This function covers procurement of works, goods and services.

ADDITIONAL POSITION HELD WHILE IN SUBSTANTIVE POSITION AS MANAGEMENT ACCOUNTANT :

Project Accountant - Intercity STC Coaches Group (2014 to December 2016)

Entirely responsible for the Accounting operations, reports and repayments of the twenty- five (25) ISTC/SMICE Int. minibus shuttle project on the Accra - Aflao corridor.

• Conducted statutory external audit on clients financial statements
• Conducted internal audit assignments on clients internal controls
• Conducted tax assignments for clients
• Conducted accounting services for clients
• Effective time management in order to complete all tasks within deadlines.

Audit and consultancy assignments for client including:

• Provident Insurance Company
• Ghana Immigration Service (AENEAS EU Funded project)
• Ghana Judicial Service (Fraud Investigation)
• Kasapreko Company Limited (Internal Audit function)
• National Lottery Authority
• Pentecost Hospital (Alpha Medical Centre)
• Read Wide Company Ltd
• Innovation for Poverty Alleviation
• Kezzy Bann Logistics and Investment Ltd.
• Novel Commodities Ghana Ltd.
• Swaako Engineering Services Ltd
• Mac Minning & Construction Partners
• Jei River Farms (Operational Audit and Review)