The Managing Director of Ghana Publishing Company Limited (GPCL), Nana Kwasi Boatey, has strongly defended his stewardship of the state-owned printing company following criticism of its reported GH¢16.9 million profit after tax for 2025, challenging former Managing Director David Asante Boateng to substantiate his claims with documentary evidence.
Mr Boatey has maintained that the company’s financial turnaround and operational improvements under his leadership are supported by official records, insisting that public accountability must be based on verifiable facts rather than political commentary and personal attacks.
His response follows public statements attributed to Mr Boateng questioning his stewardship and reportedly suggesting that some of the achievements announced by the current management should be credited to the previous administration.
In a statement titled “Correcting the Public Record on Ghana Publishing Company Ltd,” Mr Boatey rejected attempts to politicise the company’s performance, declaring that he would not engage in personal exchanges but would instead allow the company’s financial and operational records to speak for themselves.
“I do not usually respond to political commentary relating to GPCL on personal levels. However, recent public statements attributed to Mr. David Asante Boateng concerning my stewardship at Ghana Publishing Company Ltd (GPCL), and the personal comments that have followed, make it necessary for me to correct the public record,” he stated.
“I will not respond to insults with insults. I will set out the facts, invite correction where evidence supports it, and leave the records to speak.”
GPCL Records GH¢16.9 Million Profit
The controversy follows Mr Boatey’s presentation at the Government Accountability Series held at the Presidency in Accra on Monday, November 2, 2026, where he outlined the company’s financial performance and operational reforms over the past 18 months.
According to him, GPCL recorded a profit after tax of GH¢16.9 million in 2025, representing an increase of more than 600 per cent over the approximately GH¢2.2 million reported for 2024.
The 2025 performance represents the company’s highest reported profit in recent years, surpassing the previous peak of GH¢2.7 million recorded in 2023.
Mr Boatey further disclosed that the company’s revenue increased from approximately GH¢60 million in 2024 to GH¢72 million in 2025, driven largely by increased gazette publications, additional printing contracts and improved service delivery.
At the same time, expenditure declined by approximately eight per cent, from GH¢57 million to GH¢53 million, marking the company’s first reported reduction in spending since 2020.
Administrative expenses also dropped significantly, from GH¢11 million to GH¢7.1 million, following measures to control spending on travel, meetings, seminars, board activities and other operational costs.
“Significant savings were achieved in travel, transport, and Board-related expenditure through better planning, increased use of virtual engagements, and prioritisation of essential activities,” he explained.
The company’s audited financial statements also showed that GPCL ended 2025 with a cash balance of GH¢18.77 million after three consecutive years of negative balances.
MD Highlights Major Operational Reforms
Beyond the financial gains, Mr Boatey outlined several initiatives undertaken by the current management to strengthen GPCL’s operational capacity and commercial competitiveness.
Among the measures was the introduction of a three-shift production system to support the government’s 24-hour economy initiative and increase the company’s printing capacity.
He also cited the establishment of a teller arrangement with Consolidated Bank Ghana (CBG) to ensure that company revenues are paid directly into the bank, improving financial accountability and reducing the risks associated with cash handling.
Other interventions included the establishment of a modern Digital Press Centre, the acquisition of three new vehicles comprising a Land Cruiser V6 and two Jetour Dashing vehicles, and the procurement of a 550KVA power-generating plant to support uninterrupted production.
Mr Boatey further disclosed a €1.5 million investment in retooling the company’s production line and establishing a security press.
He said management had also established Quality Control, Sales and Marketing, and Legal departments to reduce production wastage, strengthen revenue generation and improve the company’s institutional capacity.
Additionally, the company implemented a 40 per cent increase in basic salaries in 2025 and undertook a comprehensive facelift of its facilities.
GH¢22 Million VAT Debt Sparks Questions
Despite the financial improvements, Mr Boatey acknowledged that GPCL continues to face significant financial obligations, particularly an outstanding GH¢22 million Value Added Tax (VAT) liability.
He disclosed that the Ghana Revenue Authority (GRA) had written to the company demanding payment of the amount, which he said accumulated between 2020 and 2024.
Management has indicated its intention to settle the liability through an instalment arrangement.
However, in his subsequent statement, Mr Boatey challenged his predecessor to clarify the circumstances surrounding the outstanding tax obligations.
He specifically asked Mr Boateng to confirm or dispute whether the company received a GRA demand for GH¢22 million in unpaid VAT covering 2020 to 2024 and whether the records showed that no VAT payments were made in 2020 and 2024.
He also demanded clarification regarding the company’s financial position at the time of the February 2024 handover, including whether staff salaries were being financed through a bank overdraft.
Boatey Challenges Former MD Over Assets and Achievements
In a direct challenge to his predecessor, Mr Boatey raised questions about the ownership, acquisition and condition of vehicles inherited by previous management.
He asked Mr Boateng to confirm whether a Land Cruiser inherited in 2017 had originally been acquired by former Managing Director David Dzereke, together with a Coaster bus and three Hyundai i10 vehicles.
He further questioned whether the Land Cruiser had been damaged beyond repair before the 2024 handover and whether the absence of insurance coverage had resulted in the company’s complete loss of the vehicle.
Mr Boatey also challenged his predecessor to identify which of the ten achievements presented at the Government Accountability Series were inaccurate or unsupported by official records.
He demanded that Mr Boateng specify which achievements could legitimately be attributed to actions taken during his tenure and provide documentary evidence to support such claims.
The Managing Director maintained that these questions were not intended to provoke political confrontation but to establish an accurate account of the company’s management history.
“These are not rhetorical questions. They are matters capable of documentary verification,” he emphasised.
MD Offers Records for Independent Scrutiny
In a move aimed at reinforcing transparency, Mr Boatey expressed his willingness to make relevant company documents available for independent examination.
He said the documents would include the GRA demand letter, the Auditor-General’s 2025 financial statements, handover records, bank statements, asset registers, insurance records and payroll approvals.
According to him, any individual seeking to independently verify the claims could request access to the relevant records.
He further pledged to correct any factual inaccuracies established through credible evidence.
“If any statement of fact in this post is shown to be inaccurate, I will correct it. I have no interest in a Facebook exchange. I have a job to do, and when I leave I want my deeds to speak for me,” he declared.
Politics Must Be About Records, Not Personalities
Mr Boatey concluded by urging public officials and political actors to prioritise accountability, institutional performance and factual debate over personal disagreements.
He maintained that the ultimate responsibility of public officeholders was to account to Ghanaians for the resources entrusted to their care.
“Politics should be a contest of ideas and records, not personalities. Let us respect the people of Ghana, to whom we are all obligated to account for our stewardship,” he stated.
The dispute has brought renewed attention to GPCL’s financial performance, the management of its historical tax liabilities and competing claims over the reforms credited with improving the company’s operations.
While Mr Boatey has defended the reported achievements of his administration, the specific allegations concerning previous management remain matters requiring independent documentary verification.
