In an inspiring demonstration of business acumen and determination, the Managing Director of the Ghana Publishing Company Limited (GPCL), David Asante, has highlighted the company’s ability to thrive financially amidst adversity.
At the commissioning of the GPCL branch in the Ashanti Regional capital, Kumasi, Mr. Asante shared that despite facing numerous challenges, the once crumpling company has managed to maintain financial stability and achieve significant success.
He attributed this accomplishment to the collective efforts of the company’s management and staff, who have remained committed to their mission even in the face of difficulties.
“When we took over the leadership of GPCL, the company was facing immense challenges. We inherited a company with over five years of unaudited accounts, regional branches that had been run down and sold, and salaries in arrears with huge legacy debts”.
“The company was perpetually making losses, with outstanding statutory payments and dilapidated infrastructure and machines. We were not competitive in the printing industry”.
“Today, through prudent management, we are happy to announce the establishment of new production units equipped with modern and sophisticated machines. All accounts have been audited and are up to date, there are no salary arrears, and profits have been made year on year.”
Mr. Asante revealed that the publishing industry despite grappling with dwindling revenues previously has reached a significant milestone financially.
“Financially, GPCL has demonstrated resilience and success. Apart from the challenging COVID years of 2020 and 2021, we have consistently recorded a profit, reflecting our robust business strategies and commitment to excellence.
We would like to take this moment to acknowledge and appreciate the invaluable support of our stakeholders.”
“To the sector Ministry, the Ministry of Information, we extend our deepest gratitude for your continuous guidance and support.”
Under Mr. Asante’s leadership, GPCL has implemented several strategic initiatives aimed at enhancing operational efficiency and boosting revenue generation.
These measures include embracing digital technology and fostering partnerships with local and international organizations.
“Our achievements are built on the foundation of digitalization, an initiative championed by the Vice President, His Excellency Alhaji Dr. Mahamudu Bawumia.”
“Through his visionary leadership, we have embraced digitalization, transforming our operations and enhancing our service delivery. Today, we are excited to announce the upcoming launch of our online platform, the e-Gazette.”
The result of these efforts is evident in GPCL’s improved financial performance.
The company has reported increased sales and profits over the past year, which Mr. Asante attributes to the successful execution of their strategic plans.
However, Mr. Asante was quick to emphasize that while GPCL’s current achievements are commendable, there is still much work to be done.
He outlined plans for further expanding the company’s reach and influence, particularly in the area of digital publishing.
“the establishment of this Kumasi branch is just the beginning. We have ambitious plans to expand our presence to other regions, specifically the Northern and Western regions, in the near future.”
“This expansion is a testament to our commitment to bringing our services closer to the people of Ghana, ensuring accessibility and convenience for all.”
He also reiterated his commitment to ensuring that GPCL remains a key player in Ghana’s publishing landscape, contributing significantly to the country’s socioeconomic development.
The opening of the Kumasi branch was graced by the Information Minister, Fatima Abubakar who served as special guest of honor.
In her address, she highlighted GPCL’s journey over the decades and its historical significance.
The Minister noted that the inauguration of the new office in Kumasi symbolizes the revival of GPCL and its unwavering commitment to restoring its former glory.