New Board of Directors for NTC inaugurated

The New Times Corporation (NTC) has returned to profit making from an average yearly loss of two billion cedis as a result of cost cutting and improvement in advertising revenue, Mr. Nutifafa Kuenyehia, Chairman of the National Media Commission (NMC) said on Wednesday.

He said consequently, the Corporation's credit worthiness had improved greatly making the Ghana Commercial Bank (GCB) to remove NTC from its list of distressed companies.

Mr. Kuenyehia was inaugurating the new Board of Directors of the NTC for a two-year tem with Professor Kwesi Yankah of the University of Ghana as its Chairman.

The members include Squadron Leader Justice de-Graft Ellimah, Engineering Management Consultant, Dr. Buffer Agyeman Duah, Political Scientist, Mr. Eddie Adiin Yansah, a Lawyer and Togbe Avudzega Soga, Traditional Ruler.

The rest are Mrs. Genevieve H. Haruna, Chartered Accountant, Mr. Gilbert Awinogoya, Trade Unionist, Mr. John Derby A. Arthur, Engineer and Mr Nanabanyin Pratt, Managing Director of NTC.

Mr. Kuenyehia however, said to enable the Corporation to achieve its set plans, the board must urgently address the issue of re-capitalization, acquisition of computers to complete the computerization programme and develop effective credit control mechanism.

He said the NMC would create the right environment to insulate the state-owned media from governmental control and private manipulation to ensure its independence.

He said the Board had the responsibility to pursue policies that would encourage the editorial staff and the other units to assert their independence.

Mr. Kuenyehia said the board must ensure that the staff was guided by the principles of objectivity, fairness, good judgment and courage in the performance of their duties.

He said the NTC must increase its circulation of all its newspapers by an average of 20 percent to improve on its profit margin.

Professor Kwesi Yankah, Chairman of the new board said it would formulate new policies to address the problems of the corporation and promised to make the necessary impact in order not to overburden the taxpayer.

He said they would execute their responsibilities to the best of their ability to ensure that the NTC becomes a leading newspaper in the media.

Mr. Evans Andrew Quayson, Chairman of the immediate past board said the board set out a development co-operation plan for the Corporation during its tenure of office and expressed the hope that the new board would develop it.

He said it was able to turn the corporation from losses to profit making one and urged the new board to improve on it.

Nabanyin Pratt, Managing Director of NTC said the Corporation was in the process of acquiring colour separation facilities that would enable the newspaper to be printed in colour before the end of the year.

He said despite the constraints the Corporation was facing, workers would still work hard as their contribution to the development of the country.

He thanked the old board for their competence and expressed the hope that the new would build on it.