The thoughts of Outgoing Board Chairman to Graphic

I thank the Almighty God for His provision and support during the tenure of office as Chairman of this great company-GCGL.

We, the outgoing Board members would like to thank the Government of Ghana and the National Media Commission (NMC) for the opportunity to serve our dear country, Ghana and the great family of GCGL.

As a Board, we were committed to making GCGL the most successful newspaper company and the first choice for Ghanaians as well as globally relevant media house.

We were also committed to the following Strategic goals:

• Leadership with a vision, mission and values
• Strategic thinking that focused on core business of GCGL – ie a print media with pioneering spirit and a serious understanding of the brand promise to customers in the digital age and also developing allied business models to improve the fortunes of GCGL
• People management that did put the right people in the right jobs to support growth so as to be in a position to provide premium quality content across all media platforms.
• Ensuring sound operation metrics anchored on realistic financial goals and performance; to achieve outstanding results efficiently as well as excellent sales profits, productivity, asset utilization, quality, innovation and customer satisfaction
• Relationship building that secured the buy-in of both internal and external stakeholders especially staff, vendors and government as the main shareholder.

To a large extent, our strategic goals were achieved because today GCGL is audience focused. We toured all the regions of Ghana to listen to staff and vendors. GCGL is delivering the promise made during the said tour; especially the renewed focus on Regional Diaries as a strong community engagement project. GCGL has innovated and continue to exhibit creativity – high quality newspaper print, online presence etc. GCGL is providing value- based education and responsible citizen ethics – the galamsey crusade; and GCGL is delivering on its financial metrics – efficiency, effectiveness, economy and equity are seen in the reported management and financial accounts. The G-Pak subsidiary is equipped and ready to provide textbook printing service.

Inspite of the said performance, it is abundantly clear that the threat to GCGL now appears from nearly every red flag indicator in the newspaper industry in Ghana:

• Ministries, Metropolitan and District Assemblies continue to fail woefully in the payment of the supply of newspapers and advertising services. The accounts receivable from the said government sectors keep increasing and GCGL has no power to cut off services. Seemingly, the NMC has not been able to help the state media in the collection of debts from the government.
• Declining circulation owing to poor reading culture in Ghana and compounded by newspaper review by TV and FM stations.
• Glut of news in the social media – The problem with newspaper is that most of them give account of things you have read online the day before.
• Increasing cost of running big press, cost of circulation and production departments.
• Increase in advertisement using social media platforms impacting negatively on advertisement revenues.
• Lack of truth in reporting by journalists.
• Lack of in-depth community engagement.

Truly, newspaper publishers are asking themselves the following fundamental questions:

• How can we remain trusted source of information for consumers in a world full of digital content and social media noise?
• How can newspaper publishers continue to attract people to newspaper content no matter where and how it is consumed?
• What will be the best business model for optimal balance of revenues between news content and advertising? The debate about 60:40 – content to advert respectively, still rages on.

Nana Chairman, Ladies and Gentlemen, traditional mainstream media organisations like GCGL are indeed under threat and may not survive and thrive in the face of digital revolution if we fail to innovate.

It is vividly clear that GCGL will need multiple revenue sources to survive. It is in this connection that the out-going Board deemed it fit to commence the following strategic moves which we want to recommend same to the in-coming Board. We are however mindful of the need to discuss the initiatives further to secure the opinion of key stakeholders:

• Aggressive digital media strategy with strong engagement of the youth to gain opportunities within the digital media space.
• Aggressive diversification of strategy and business models that include – Paper Conversion business, Graphic Courier, Graphic Clinic commercialization, TV Project, Graphic School of Excellence and conversion of all GCGL landed properties into income generation ventures.

I have heard some guru journalists saying that the state news media should concentrate on their core business. It sounds good considering the reason behind the establishment of state media like GCGL and its role in growing democracy in Ghana and the stipulations of the 1992 constitution. However, it sounds worrisome if government is not prepared to support the state media financially. Remember that paper is expensive and if every square inch of the paper is not filled by the highest and the best content such as authentic journalism and adverts to rake in the much needed funds for sustained operations, then I am afraid, the sustained publication of the paper is likely to grind to a halt.

Again if we do not diversify advertising – dependent revenue portfolios through diversification of lines of business, again I am afraid, sustained publication of GCGL is likely to come to a halt. I am not a prophet of doom but the writings are on the wall for everyone to see. I pray that it does not happen. We need concrete action now.

I believe GCGL will have to stay in business to the foreseeable future. Accordingly, I wish to share with the in-coming Board the following key crusades which they have to play a core role:

• Encourage the long – standing association of GCGL with high quality information – ie the reputation for delivering credible and accurate information that will attract major consumers; the rebirth of original journalism which is bolder in the coverage of news and always seeking truth and balance; the rebirth of journalists that are arbiters of truth who want to produce measured and thoughtful news coverage.
• Reward and publicize investigative and analytical journalism that offer unique content which I find to be the key to long-term survival of newspapers.
• Create affiliated website to the GCGL’s main website to cater completely to the interest of the young ones (18-35) so as to feed them with completely different set of values/news that is important to their age group.
• Continue to push for the hybrid of newspaper print and online presence providing most of the volume of content that serves the youth. Can you imagine a media company without a mobile – first strategy, or no social media platforms?
• Leverage on Technology – Research has proven that today newspapers can be published in our homes using mega desktop technology thus saving the cost of big presses, circulation/transport and production costs etc. Have in mind that tomorrow Graphic newspaper can be published cheaper in say all the current ten (10) regions in Ghana using the new technology. We can have brands that can leverage on Graphic brand/goodwill, for example – Graphic Volta, Graphic Eastern etc leveraging on core news of Graphic Newspaper in Accra but with more local or community engagement and content. This innovation on the back of technology will hopefully cut off the high cost of big press, distribution/ transportation challenges etc. It is being done in other jurisdictions through the power of technology and so please think about it today for tomorrow will be too late.

Finally, I know that the current MD leaves at the end of this month. A new MD would have to be appointed soon. My observation and humble advice to the NMC and the in-coming Board is that in this uncertain era for newspaper publishing, it will be dangerous to experiment the MD’s position.

GCGL needs strong leadership – someone with vision and strategic intelligence to succeed and achieve – an achiever willing to take calculated risk; a person with an enlightened stewardship character; one that values authentic journalism, believes in public service and above all understands technology and can derive technology.

The man specs for the MD’s position should take into consideration the following:

• Able to identify operational performance measures and understands finance related issues in order to analyse GCGL performances – as the aims of businesses are focused towards growth, profits and increasing shareholders returns, the Managing Director should be able to ensure that the GCGL’s strategy is geared towards sound operational performance.
• Able to understand a multi-faceted business operation – has in-depth knowledge of markets and changing business environment.
• Can create initiatives to take advantage of market opportunities to reduce operational threats, forestall business risks and maximize core strengths.

Infact, GCGL MD should be a strategic thinker, action oriented, an achiever who knows and understands business and its financial implications. PERIOD.

In conclusion, I wish the in-coming Board well. I wish GCGL well, I wish the lively law abiding management and staff well.

May the Lord our God bless your efforts and approve your plans. (Psalm 90:17)

Thank you.

Prof Omane Antwi

Board Chairman Graphic Board 2015 – 2017

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