The Cabinet has approved the listing of Graphic Communications Group Limited on the Ghana Stock Exchange to help recapitalise the company.
Recent reports indicated that Graphic Communications has been struggling to generate enough 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 company, Minister for Information Fatimatu Abubakar explained that the decision to list Graphic Communications on the Stock Exchange aims to modernize the media outlet’s operations.
“Looking at the pros and cons, there was a Cabinet decision that it [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.
Addressing rumors about the listing, Abubakar clarified, “There have been some speculations in the system saying that the president wants to sell the company to this private individual or the other but that is far from the truth. In fact, as we speak now, not a single investor has been approached or expressed interest. We are still going through 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.”
The move to list Graphic Communications on the Stock Exchange is part of a broader effort to ensure the company’s financial stability and operational efficiency.
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