By Agnes Ansah
Accra, Nov. 2, GNA – The Ghana Publishing Company Limited (GPCL) says it has overcome its crippling liquidity challenges following sweeping structural reforms and the introduction of stricter financial controls.
Speaking at the Government Accountability Series, monitored by the Ghana News Agency (GNA) on Monday, Nana Kwasi Boatey Esq., Managing Director of GPCL, said the establishment of a commercial sales department had repositioned the state-owned publishing company to compete more aggressively for business.
Nana Boatey said management had uncovered significant weaknesses in the company’s financial management systems, particularly the handling and use of physical cash by cashiers, which created loopholes that could easily be exploited.
To address the problem, he said management engaged Consolidated Bank Ghana (CBG), which installed teller facilities at the company’s business centre to ensure that all revenue generated went directly into the banking system.
The move strengthened financial controls, improved the tracking of revenue and expenditure, and ensured that all company spending was conducted through the banking system.
“We realised there were significant gaps and loopholes in financial management and controls. If, at the end of the day, the cashier had to count all the money and take it to the bank, and if you wanted to spend, you could spend cash; these were gaps that could easily be exploited,” Nana Boatey said.
“So, we immediately engaged CBG, who were thankfully our tenants, and they installed teller facilities in our business centre.”
“All monies coming to Ghana Publishing now go straight to the bank, which means that all expenditure also comes from the bank.”
“The measures were tighter, we could track revenue and expenditure, and the leakages were somehow sealed.”
Mr Boatey said management had also intensified efforts to clamp down on the production and circulation of fake gazettes by middlemen, popularly known as ‘goro boys’, who allegedly defrauded clients by collecting money in exchange for unauthorised documents.
A renewed public education and media campaign against fake gazettes had helped block another major revenue leakage that deprived the company of legitimate income.
With the liquidity challenges addressed, Mr Boatey said management had shifted its attention to infrastructure development and modernisation, noting that the country’s premier publishing house previously operated without a digital press.
He disclosed that, by January this year, the company had established one of the biggest digital press centres in Ghana, which was subsequently inaugurated by the President.
He said the company had also undertaken a major facelift, including improvements to its frontage and signage, to enhance its corporate image and strengthen its competitiveness in the printing industry.
On logistics, Mr Boatey said management inherited only three Hyundai i10 vehicles, all registered in 2015.
However, between 2025 and 2026, the company acquired a Land Cruiser V6, two brand-new Jetour vehicles, and motorbikes to strengthen its operational capacity.
He disclosed that GPCL had invested 1.5 million euros in equipment for its new security printing press, which was expected to arrive in November.
The equipment, he said, would enable the company to compete for contracts to print security-sensitive documents, including cheque books and passports.
GNA
Edited Agnes Boye-Doe