{"id":362301,"date":"2025-08-21T14:54:10","date_gmt":"2025-08-21T14:54:10","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/362301\/"},"modified":"2025-08-21T14:54:10","modified_gmt":"2025-08-21T14:54:10","slug":"i-inherited-over-200-million-debt-dvla-boss-reveals-financial-crisis","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/362301\/","title":{"rendered":"I inherited over $200 million debt \u2013 DVLA boss reveals financial crisis"},"content":{"rendered":"<p class=\"article-image\"><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/I-inherited-over-200-million-debt-DVLA-boss-reveals-financial-crisis-1997167?gallery=1\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/08\/52894842.295.jpg\" alt=\"Julius Neequaye Kotey is the CEO of DVLA\" title=\"Julius Neequaye Kotey is the CEO of DVLA\" width=\"295\" height=\"180\" \/> <\/a>Julius Neequaye Kotey is the CEO of DVLA<\/p>\n<p id=\"article-123\">The Chief Executive Officer of the Driver and Vehicle Licensing Authority (DVLA), Julius Neequaye Kotey, has disclosed that he inherited a staggering financial deficit upon assuming office.<\/p>\n<p>He said the debts totaled over $200 million in foreign currency and GH\u00a2300 million in local currency.<\/p>\n<p>Speaking on Channel One TV\u2019s Face to Face on August 19, 2025, Kotey described the financial state of the Authority as dire, citing mismanagement and legacy liabilities from the previous administration. <\/p>\n<p>\u201cI inherited debt, which I made the public aware of. In our dollar account, we were owing close to $200 million. In our cedi account, we were owing about GH\u00a2300 million,\u201d Kotey stated.<\/p>\n<p><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/Cedi-weakens-to-GH-10-82-per-US-dollar-1997155\" target=\"_blank\" rel=\"noopener\">Cedi weakens to GH\u00a210.82 per US dollar<\/a><\/p>\n<p>Despite these challenges, Kotey noted that there has been significant progress made under his leadership.<\/p>\n<p>He pointed to a series of structural reforms, including enhanced revenue collection systems, digitisation of services, and tighter financial controls. <\/p>\n<p>These efforts, he said, have led to a 57% increase in revenue in the first quarter of 2025 alone.<\/p>\n<p>\u201cI don\u2019t want to blow my horns, but I have been able to make a lot of changes. In the 2025 first quarter, I moved revenue up by 57%,\u201d he said.<\/p>\n<p>SA\/MA<\/p>\n<p><b>How Virtual Reality is enhancing business and customer experience<\/b><\/p><\/p>\n","protected":false},"excerpt":{"rendered":"Julius Neequaye Kotey is the CEO of DVLA The Chief Executive Officer of the Driver and Vehicle Licensing&hellip;\n","protected":false},"author":2,"featured_media":362302,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,1700,16,15],"class_list":{"0":"post-362301","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115067333399293462","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/362301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=362301"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/362301\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/362302"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=362301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=362301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=362301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}