An audit of the Gambia Printing and Publishing Corporation (GPPC) has revealed that the national print media house is carrying D9.46 million in long-outstanding debts, most of which have remained unpaid for more than three years, according to audited financial statements presented to lawmakers this week.
The startling figures emerged when GPPC officials appeared before the Public Enterprise Committee of the National Assembly to present the corporation’s draft financial statements for the year ended 31 December 2022. Auditors flagged a total debt of D23,361,017 in trade receivables, but identified D9,462,712 of that amount as bad and doubtful debts — meaning nearly 40 % of the corporation’s receivables may be unrecoverable.
According to the audit report, the bulk of these outstanding balances are owed by a mix of government institutions, parastatals, private businesses and individuals. Despite their age, most debts date back over three years, raising serious questions about GPPC’s credit and debt-recovery practices.
Auditors also raised concerns over the corporation’s lack of a clear provisioning policy for bad debts. Without a robust framework to assess and write down uncollectable accounts, the audit notes, GPPC’s reported trade receivables may be materially overstated. “No substantial provision has been made in respect of these long outstanding balances due to lack of a provisioning policy,” the report states.
Compounding these worries, the audit found little evidence of sustained discussion by GPPC’s board and management on debt recovery during the period under review. Minutes from management and board meetings did not reflect strategic efforts to recover over-due obligations, suggesting weak oversight of financial controls and credit risk.
The revelations have renewed scrutiny of GPPC’s financial stewardship. Lawmakers expressed particular frustration that the state enterprise has carried such large overdue accounts without apparent consequences or corrective action, especially given its role in printing educational materials, government documents and other essential publications.
Opposition legislators described the situation as symptomatic of broader governance issues within some state-owned enterprises. “When a corporation entrusted with public resources allows such a large portion of its receivables to remain uncollected, it reflects deeper systemic weaknesses in oversight,” one committee member told reporters after the hearing.
GPPC management, led by Managing Director Wura Bah, defended its operations, saying the corporation has been working to reconcile accounts and pursue collections where possible. Company representatives noted that some of the outstanding debts are tied up in disputes and that recovery efforts have been slow due to economic conditions and the financial difficulties faced by some debtor entities.
However, critics argue that such explanations are insufficient. They point out that without proper provisioning and proactive recovery strategies, GPPC’s financial statements paint an overly optimistic picture of its fiscal health. They also called for immediate reforms to strengthen credit controls, create clear provisioning rules, and increase board accountability.
The audit’s publication coincides with broader concerns about financial management in Gambian public institutions. Recent reports, both in the National Assembly and in the press, have underscored the need for tighter governance and transparency across state enterprises to protect public funds and ensure institutional sustainability.
As the Public Enterprise Committee prepares its report and recommendations, attention is likely to shift toward ensuring GPPC implements corrective measures to stem further deterioration of its financial position and restore confidence in its operations.
