President John Dramani Mahama on Friday visited the Ghana Publishing Company (GPC), a state-owned printing enterprise, where he was briefed on a significant turnaround following months of financial distress.
Speaking during the visit, Managing Director Nana Kwasi Boatey revealed that prior to the current administration, the company’s financial situation was precarious. “When we came in February, the bank balance was just GH¢400,000, and in January, the company paid salaries using an overdraft,” he said.
Boatey outlined measures introduced by the new management to stabilise operations, including a 40 per cent increase in staff salaries and payment of a 13th-month salary in December without borrowing. “We have also placed GH¢15 million in a fixed deposit in the last 10 months,” he added.
To boost productivity, the company adopted a 24-hour operational model, introducing a night shift. “Gazettes that previously took eight weeks to produce now take three weeks. The 24-hour turnaround has increased revenue and improved efficiency,” Boatey said.
He also highlighted the development of a new digital press centre, a fully furnished warehouse, and other infrastructural improvements that have strengthened the company’s operational capacity.
Boatey expressed optimism about future prospects, citing potential contracts from government agencies, including the Ghana Education Service, as a key revenue source. “With these government jobs and continued commitment, we believe the company can maintain its financial stability and further expand operations,” he said.
President Mahama’s visit underscores the administration’s commitment to reviving state-owned enterprises and supporting sustainable employment. The Ghana Publishing Company’s revival represents a combination of strategic management, investment in staff welfare, and operational restructuring aimed at restoring profitability and efficiency.
The company prints government gazettes and official documents, making its efficiency critical to the dissemination of legal notices and public information across the country. The improvements in turnaround time and financial health mark a major milestone in restoring confidence in the state-owned firm.