The Managing Director of Ghana Publishing Company Limited (GPCL), Nana Kwasi Boatey, has challenged his predecessor, David Asante Boateng, to substantiate his claims about the state-owned company’s performance, insisting that its recent achievements can be verified through official records.
Mr Boatey said he was responding to public comments questioning his stewardship of the company following the announcement that GPCL recorded GH¢16.9 million in after-tax profit in 2025, representing a significant increase over the GH¢2.2 million recorded in 2024.
In a statement titled “Correcting the Public Record on Ghana Publishing Company Ltd,” he said he would not engage in personal attacks but would rely on documentary evidence to address the issues raised.
He invited Mr Boateng to confirm or correct seven matters, including whether GPCL received a GH¢22 million demand from the Ghana Revenue Authority (GRA) for unpaid Value Added Tax (VAT) covering 2020 to 2024.
He also challenged his predecessor to clarify the company’s bank balance at the time of the February 2024 handover and whether staff salaries were then being paid through a bank overdraft.
Other issues he raised concerned the acquisition and subsequent condition of a Land Cruiser reportedly inherited in 2017, the vehicles acquired during the previous administration, and the circumstances surrounding the vehicle’s alleged damage beyond repair before the 2024 handover.
Mr Boatey further asked Mr Boateng to identify which of the 10 achievements he outlined during his presentation at the Government Accountability Series at the Presidency on November 2 were inaccurate or unsupported by official records.
The achievements, he said, included the introduction of a three-shift system under the 24-hour economy initiative, the establishment of a teller arrangement with Consolidated Bank Ghana to ensure that company funds were banked, and the creation of a modern Digital Press Centre.
He also cited the acquisition of three vehicles, including a Land Cruiser V6 and two Jetour Dashing vehicles, as well as a 550KVA power generating plant.
Other investments included €1.5 million in production-line retooling and the establishment of a security press, alongside the creation of Quality Control, Sales and Marketing, and Legal departments.
Mr Boatey said the company had also improved staff remuneration, including a 40 per cent increase in basic salaries in 2025, and undertaken a facelift of its facilities.
On the company’s financial performance, he said GPCL’s GH¢16.9 million after-tax profit in 2025 was its strongest in recent years, compared with GH¢2.2 million in 2024 and GH¢2.7 million in 2023.
Revenue increased from approximately GH¢60 million in 2024 to GH¢72 million in 2025, driven largely by increased gazette publications, additional printing assignments and faster delivery of services.
Expenditure, meanwhile, declined by about eight per cent, from GH¢57 million to GH¢53 million, marking the first reduction since 2020.
Administrative expenses also fell from GH¢11 million to GH¢7.1 million, with savings attributed to reduced spending on seminars, meetings, travel, board-related activities and staff motivation.
The company’s audited 2025 financial statements also showed that it ended the year with GH¢18.77 million in cash, after recording negative cash balances for three consecutive years.
However, Mr Boatey identified the GH¢22 million VAT liability demanded by the GRA as a major challenge facing the company. He said GPCL was seeking an instalment arrangement to settle the outstanding amount.
He maintained that the issues raised in his statement were matters that could be independently verified and offered to make available the GRA demand letter, Auditor-General’s financial statements, handover documents, bank statements, asset and insurance records, as well as payroll approvals.
Mr Boatey said he would correct any factual statement found to be inaccurate, adding that his priority was to continue working for the company rather than engage in exchanges on social media.
“Politics should be a contest of ideas and records, not personalities,” he said, urging public officials to respect their obligation to account to Ghanaians.
