David Asante, former Chief Executive Officer of the Ghana Publishing Company Limited, has reiterated that the company was financially sound and profitable before the current management took over. 

He made the assertion in a Facebook post on Wednesday, January 14, amid debate over the company’s performance.

Mr Asante said the purchase of a luxury Toyota Land Cruiser costing nearly US$200,000 and a US$20,000 digital printing machine within months of the new management’s appointment undermines claims that GPCL was struggling financially at the time of transition.

He maintained that the funds used for these purchases were generated from revenues and investments made during the period between 2017 and 2024. 

According to him, the company recorded consistent profits and benefited from major contracts and expanded operations during that time.

The former CEO stressed that these achievements were not sudden or accidental, but the result of long-term planning and capital investment. 

He said audited financial statements covering several years provide clear evidence of the company’s improved position.

Mr Asante warned against what he described as attempts to rewrite the company’s history for political credit.

He said GPCL’s turnaround is well documented and cannot be attributed to actions taken within a few months of the new administration.