﻿10 MOST VALUABLE COMPANIES IN GHANA 2022 Ghana has been plagued by corruption,
natural calamities, and mishandling of cash over the years. The country was on the verge
of collapse when the World Bank intervened and granted it debt relief under their severely
indebted poor country project. Following a change in government and credit policies,
their economy improved, and the list of Ghana's richest corporations is growing.
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Ghana is the 9th largest economy in Africa and the largest economy in West Africa as of 2021.
The majority of its earnings comes from gold mining, petroleum, and agriculture.
You may also notice that the bulk of Ghana's top wealthiest corporations derive their fortunes
from the three aforementioned sources. However, we will only look at the top 10, which include
both the richest private enterprises in Ghana and those controlled by the government.
10. Guinness Ghana Breweries: Tenth on our list of most valuable companies
in Ghana is the brewery industry, Guinness Ghana Breweries. Guinness Ghana Breweries Limited
manufactures and markets a range of alcoholic and non-alcoholic beverages for the Ghana domestic
market and for international export. Its product offering includes spirits, beers, lagers and
stouts as well as ready-to-drink products. Popular brand names include Guinness Foreign Extra Stout,
Orijin Zero, Ciroc Ultra-Premium Vodka, Johnnie Walker Reserve Scotch Whisky,
Ron Zacapa Rum, Malta Guinness, Star Lager, Gulder, Alvaro, Ruut Extra, Orijin Bitters,
Smirnoff Ice and Smirnoff Double Black Ice. The company was originally founded to produce Guinness
Foreign Extra Stout, otherwise known as Guinness. Its non-alcoholic beverage, Malta Guinness,
is extremely popular and has captured 70% of the Ghana non-alcoholic beverages market.
Guinness Ghana Breweries is a subsidiary of Diageo Plc. and is based in Kumasi, Ghana. In 2019,
the company was able to make over $86,000 from its total assets. They do have an estimated Market Cap
of $91M. 9. Zoomlion
Ghana Limited: Zoomlion, despite the
fact that it is a trash management firm, is by far one of the wealthiest private enterprises
in Ghana. Dr. Joseph Siaw established it in the year 2006 as a non-profit organisation.
It started off with less than 100 people, but the number has since grown to around
3000 core employees and 85000 managed personnel, according to the company. Zoomlion is a solid
waste and medical waste collection, waste treatment, recycling, public cleaning,
and janitorial services company that specialises in solid waste and medical waste collection.
The corporation reported a 116 percent profit growth of up to $616 million by the end of 2019,
with total revenue increasing to $6.7 billion, according to the company's financial statements.
It not only adds to the country's gross domestic product (GDP), but it also generates jobs.
08. Ghana National Petroleum Corporation: The Ghana National Petroleum Corporation (GNPC)
is the state agency responsible for the exploration, licensing,
and distribution of petroleum-related activities in Ghana. The corporation was established in 1983
to replace the Petroleum Department which was an agency under the Ministry of Fuel and power.
The department was responsible for the importation of crude oil and petroleum products
for the Ghanaian economy. The mandate for oil exploration was held to be the Technical
Directorate of the Ministry of Fuel and Power and the Geological Survey Department. The corporation
was created to promote the Government of Ghana's objective of supplying adequate and reliable
petroleum for the country and the discovery of crude oil in the country's territories.
As of 2020, they have revealed that they made about $300 million in revenue. They currently do
have an estimated Market Cap of $93 million 07.
Ghana Commercial Bank: GCB Bank Limited, formerly
known as Ghana Commercial Bank, is the largest independent financial institution
in Ghana. The company started in 1953 as the Bank of the Gold Coast to provide banking services
to the emerging nation for socioeconomic development. The bank had been wholly owned
by the Government of Ghana until 1996. Today, the Government's ownership stands at 21.4% while
individual and institutional holdings take up the rest. Social Security and National Insurance Trust
is currently the largest shareholder in the company with 29.8% holding, followed in third
place by the UK investment firm SCBN/Northern Trust Global Service Ltd with a distant 6.6%.
With over 150 branches and 11 agencies in all regions of the country, GCB Bank is, in effect,
the widest-networked commercial bank in Ghana. In 2013, the bank adopted an internal change program
that overhauled its brand, resulting in the new name the following year. GCB Bank
Limited is currently the seventh most valuable stock on the GSE with a market capitalization
of GHC 1.3B, which makes about 2.12% of the Ghana Stock Exchange equity market.
06. Tullow Ghana: Tullow Oil PLC, as the name suggests,
was founded in Tullow, Ireland, in 1985 but only opened branches in Ghana in 2007.
Though the multinational company has branches in six countries of Africa,
its Jubilee Oil field in Ghana brings it the most profits. It produces 30,000 barrels of oil a day
hence earning the company a spot in the list of richest companies in Ghana. Tullow
attributes its 74% success rate in drilling to its heavy investment in geographical equipment.
During the end of the 2019 financial year, their total revenue of $1682.6 million dollars
and a net income of $1694.1 million dollars. Their figures are set to drop in 2020 as the oil and gas
industry has not been doing well. Hopefully, they will still retain their top ten positions.
05. Total Petroleum Ghana:
Total Petroleum Ghana PLC is a subsidiary of the Total Group, which is the world's fourth-largest
publicly listed integrated worldwide oil and gas company, having operations in over 130 countries.
Total's presence in Ghana dates back over 65 years. Total Oil Products was the company's
first foray into Ghana. Total has gone through several alterations since then. Total acquired
British Petroleum through Elf Oil and TotalFinaElf in France. Following this, Total and Elf merged
globally, and Total Petroleum Ghana PLC was formed when Total Outre-Mer purchased Mobil in Ghana.
This advancement, along with a strong regard for quality, standards, accomplishments, and safety,
has driven the company to the forefront of the industry. In the Ghanaian market,
Total has a strong brand image. The company has key sites in major cities and towns
in all 16 regions of the nation. 04. Sunon Asogli Power Plant Ltd:
Sunon Asogli Power Limited is jointly owned by Shenzhen Energy Group Company Ltd and the China
African Development Fund. The project is a modern, highly efficient, environmentally friendly,
natural gas fuel combine cycle power plant situated on a 50-acre land at Tema, Accra.
Sunon Asogli Power Plant (Ghana) Ltd. accepted the challenge of establishing a 560-megawatt
gas-steam combined cycle power plant to alleviate the intermittent power shortages that occasionally
struck Ghana. The 2×100MW Phase I project was completed for commercial use by the end of 2010,
and the 2×180MW Phase II project was officially put into operation in February 2017.
The annual electricity supply of the company is estimated to safely reach 3.1 billion KWH, about
25% of the nation’s total generation capacity in Ghana as the company puts efficiency and safety
as the enterprise spirit and is committed to being a model in China’s Overseas Strategic Investment.
In March 2021, Sunon Asogli Power Announced plans to expand to Sierra Leone. SUNON ASOGLI
POWER LTD has 20 total employees across all of its locations and generates $2.53 million in sales
03. GOIL: GOIL is a state-owned
Ghanaian Oil and Gas marketing company, formed in June 1960. Currently, it holds the place
of Ghana’s top oil marketing company and is the only indigenous-owned petroleum marketing company
in Ghana. In 2019, the company changed its name to GOIL Company Limited,
to reflect its growth and expansion activities in the petroleum sector and other industries.
The Company’s main business is the marketing and distribution of Petroleom products in Ghana.
The biggest chunk of its sales comes from the sale of diesel and gasoline.
GOIL’s mission focuses on marketing quality petroleum and other energy products and services
in a safe, ethical, healthy, environmentally friendly, and socially responsible manner.
02. Kosmos Energy Ghana: Deepwater exploration and
production business Kosmos Energy has holdings in proven basins offshore Ghana, Equatorial Guinea,
the United States Gulf of Mexico, as well as a world-class gas development offshore Mauritania
and Senegal. Kosmos Energy is headquartered in Houston, Texas. Creating value for all of
our stakeholders, including investors, workers, partners, as well as the governments and citizens
of our host nations, was a primary purpose when Kosmos was established. It is vital to
achieve this aim by conducting business in a safe, responsible, and ecologically friendly manner.
01.MTN Ghana: As the leading telecommunications group,
MTN Ghana is focused on providing excellent telecommunications services across the African
continent. We believe that through access to communication comes economic empowerment.
MTN has a wide variety of network services as well as segments. These are specially designed
for different kinds of people to enhance their mobile experience, while others add value to
their subscription with us. Our cost-effective solutions will bring a smile to your face. MTN
understands that the best way for you to gain a competitive edge in a local market
is to offer different segments which suit people’s lifestyles and economic situations
whilst allowing you to enjoy the best solutions and offerings available.
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