The Ghana Publishing Company Limited (GPCL) has recorded a financial turnaround, posting a profit after tax of GH¢16.96 million in 2025, compared to GH¢2.23 million in 2024.
The profit increase of 661.36 per cent followed the implementation of a three-shift, 24-hour operational model.
The Managing Director of GPCL, Nana Kwasi Boaitey, who made this known at the Government Accountability Series at the Jubilee House in Accra yesterday, also disclosed that the company's revenue grew from GH¢60.78 million in 2024 to GH¢72.85 million in 2025, representing a 19.87 per cent increase.
Gross profit rose by 49.76 per cent to GH¢35.01 million, while operating profit surged by 564.66 per cent from GH¢2.95 million to GH¢19.58 million.
Profit before tax stood at GH¢21.44 million, up 572.92 per cent from the previous year's GH¢3.41 million.
Innovative solutions
Recounting the challenges upon assuming office on February 16, 2025, Mr Boaitey said the company faced severe liquidity problems, which threatened its very existence as a non-subvented government agency.
"The biggest challenge that resulted in this liquidity problem was overstaffing. This is a company that had 250 or more staff doing work reserved ostensibly for about 150 people.
Easily, we could have sent 100 people home, but we did not because the government wants to create jobs," he said.
Mr Boaitey said the company drew inspiration from the government's 24-hour Economy policy, and implemented a three-shift system within three weeks of arrival.
The new structure comprises a 7:30 a.m. to 4:30 p.m. shift, an overlap shift from 10 a.m. to 7 p.m., and a night shift, reducing gazette waiting time from eight weeks to three weeks, while premium service delivery dropped from one week to three days.
Structural reforms
The MD further said that the company undertook significant structural reforms, including the creation of a quality control department to reduce wastage, a legal department to handle legal documents, and a commercial sales department to drive business growth.
To address financial leakages, the company partnered CBG Bank to implement a tele-collection system, ensuring all revenue went directly to the bank. A media campaign was also launched to combat fake gazettes perpetuated by middlemen.
"We also launched our e-gazette platform, which allows applicants to apply for gazettes online without physically coming to the company. We also introduced an e-bookshop for the purchase of Acts of Ghana," Mr Boaitey said.
Investment
The company invested in a state-of-the-art digital press, which was inaugurated by President John Dramani Mahama in January 2026, alongside the acquisition of one Land Cruiser V6, two brand new Jettor vehicles, and motorbikes to replace a 10-year-old fleet.
A further €1.5 million had also been invested in equipment for a security press expected to arrive this month, positioning the company to compete in the printing of cheque books and passports.
Mr Boaitey expressed gratitude to the Minister of Government Communication for his advocacy, adding that Cabinet had approved that 20 per cent of all government printing work be awarded to the company.
He also said that the Finance Minister had committed to having free textbooks printed by the company.
Despite the impressive gains, however, the MD acknowledged that the company was "not completely out of the woods."
He said there was a GH¢22 million VAT indebtedness to the Ghana Revenue Authority for 2020 and 2024.
"We are in negotiations with GRA to ensure this debt is taken care of over time," Mr Boaitey said.
