The Managing Director of the Ghana Publishing Company Limited (GPCL), Nana Kwasi Boaitey, has said the company was "still not completely out of the woods" yet, financially.
Speaking at a press briefing in Accra on Monday (November 2, 2026), Nana Boaitey said the current outstanding tax liability was even higher than the company's profit after tax of GH¢16.96 million recorded in 2025.
The company recorded a profit after tax of GH¢2.23 million in 2024.
He described the debt as one of the challenges facing the current management as it worked to restore the company's financial position.
At the press briefing dubbed "Government Accountability Series," Nana Boaitey said the GPCL management has for instance approached the management of the Ghana Revenue Authority (GRA) for an arrangement to enable it to settle a GH¢22 million outstanding Value Added Tax (VAT) debt through instalments.
He said the company became aware of the outstanding tax liability about a month ago after receiving a letter from the GRA.
Nana Boaitey explained that the company did not make any VAT payments in 2020 and 2024, while only partial payments were made in 2021, 2022 and 2023.
He said the GH¢22 million represented the accumulated unpaid tax for the five-year period.
Nana Boaitey said management was negotiating with the GRA and hoped the Authority would "be merciful" and allow the company to settle the liability "in bits".
He said management was also taking steps to enforce financial discipline and prevent further accumulation of the debt.
"The President has indicated that we came to solve problems, and so the problems will come, but we will continue to work towards resolving them," he said.
