Graphic Communications Group has stepped up efforts to recover its debts owed by state institutions. The state-owned publisher is owed huge debts for purchase of newspapers by Parliament and certain metropolitan, municipal and district assemblies (MMDAs).
The company was criticised in the 2017 Auditor General’s report for its failure to recover the debts. Three years on, some state institutions are still owing Graphic Communications Group. Management say several attempts to recover the debts have proved futile.
Benjamin Ato Afful, managing director of Graphic Communications Group, said steps are being taken to collect the debts.
Afful said part of the money owed the company was paid in May after the company petitioned the Speaker of Parliament.
Loan recovery agencies have also been deployed to go after the debtors.
Afful called on all institutions, both private and public, which owe the company to pay up to keep it afloat.
“As regards the recalcitrant clients that the audit refers to, we have activated two debt recovery agencies that are external to go to the businesses. They are going after long-standing debtors of the company,” he said.
“Additionally, the company has a standing debt collection force made up members of management, including unionised staff, that go round on a day-to-day basis to help the credit control team.”
Race for survival
The state-owned Graphic Communications Group is one of the oldest media houses in Ghana, and dominates the print media.
However, the company has struggled with its finances in recent years, following the advent of new media and a host of other newspapers and news platforms.
Afful said the only way the company can stay afloat is if its debtors endeavour to settle their debts.
He added: “We also use this channel to plead that this national asset will only survive when we support it to do so. So we entreat you, yourselves included, to honour your payments that are due to us and we will continue to supply you accordingly.”
E A Alanore