Graphic staff Raise Alarm Over Management’s Squandering of US$300,000

Graphic staff Raise Alarm Over Management’s Squandering of US$300,000

In a troubling development at the Graphic Communications Group Limited (GCGL), a significant investment of $300,000 into a digital archiving project has seemingly gone down the drain, sparking outrage among employees.

Launched in September last year, the initiative, which was intended to digitally preserve over 70 years of the company’s publications, has failed to generate the expected financial returns, yielding a mere GH¢1000.

The project, which spans the entirety of GCGL’s newspaper publications and exclusive photographs from 1950 to 2000, was designed to provide a robust platform for research and access to the company’s historical content.

Despite the high hopes and the commendation during its launch by Kojo Oppong Nkrumah, the Minister of Information, the archive has not produced the much-needed revenue to alleviate the company’s financial woes.

GCGL, a state-owned entity, has been struggling financially for some time, prompting considerations from the Akufo-Addo government to either sell it or float it on the Ghana Stock Exchange.

This financial downturn has led to delays in salary payments, unresolved pension contributions, and other financial liabilities affecting the staff’s morale and financial stability.

The digital archive was a collaborative effort with TechGulf Ghana, which has yet to fulfill several key aspects of its contract despite full payments being made.

The initiative was intended to safeguard the archival material and facilitate access for various stakeholders including academics, media organizations, and brand managers.

However, the anticipated financial benefits have yet to materialize, placing additional strain on the already beleaguered staff.

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Employees at GCGL are now voicing their frustrations, pointing out that management could have explored other, more lucrative business ventures.

In the age of social media where news is readily accessible, suggestions have been made that the company should diversify into producing goods like toilet rolls, egg crates, and cement bags which may promise better returns.

The discontent among the staff is growing as they witness the squandering of such a significant amount, especially when basic financial obligations such as salaries and pensions remain unmet.

The situation at GCGL serves as a stark reminder of the challenges faced by state-owned enterprises in adapting to new business models and technologies while ensuring financial viability and staff welfare.

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