David Asante, former Chief Executive Officer of the Ghana Publishing Company Limited (GPCL), has pushed back strongly against claims that the company was financially distressed before the current management took over.

In a Facebook post on Wednesday, January 14, Asante insisted that GPCL was stable, profitable, and well-positioned at the point of transition.

He cited the purchase of a luxury Toyota Land Cruiser valued at nearly US$200,000 and a US$20,000 digital printing machine shortly after the new leadership assumed office as proof that the company had sufficient resources built up under his stewardship from 2017 to 2024.

According to him, those major acquisitions were funded by revenue streams and investments made during his tenure, not by sudden improvements under the new management.

“The company consistently recorded profits, secured major contracts, and expanded operations over several years. These achievements were the result of long-term planning and strategic investments, not sudden actions by a few months of new management,” he wrote.

Asante also pointed to audited financial statements as clear evidence of GPCL’s recovery and growth, warning against any attempt to distort the company’s financial history for political or public relations gains.
“GPCL’s turnaround is well documented and cannot be attributed to actions taken within a few months of the current administration,” he added.

His comments come amid ongoing debate over the financial health of GPCL and which leadership should take credit for the state-owned publisher’s recent performance.