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The Cabinet has approved the listing of Graphic Communications Group Limited on the Ghana Stock Exchange to recapitalise the company.
Recent reports indicate that Graphic Communications has been struggling to generate sufficient revenue to meet its commitments, including paying salaries, pension contributions, and unresolved end-of-service benefits for retired staff.
During a working visit to the firm, the Minister for Information, Fatimatu Abubakar, stated that listing Graphic Communications on the Stock Exchange aims to modernize the media outlet’s operations.
“Considering the pros and cons, the Cabinet decided that Graphic Communications Group Limited should be listed. In furtherance of that decision, the Information Ministry has been engaging the boards of the two agencies or companies and also engaging some of our key stakeholders to see how best we can execute the listing,” she said.
Madam Abubakar addressed speculations about the company’s sale to private individuals, clarifying that no investors have been approached or expressed interest yet.
“As we speak now, not a single investor has been approached or expressed interest. We are still in the phase of engaging the services of a transactional advisor, opening it, and listing it. So we are saying it so that if you have an interest, you can even start preparing to see how best you can apply to acquire shares in the company,” she explained.
