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The Top 5 Companies In Ghana

 

Each year, companies in Ghana battle it out for the Ghana Club 100, a compilation of the top 100 companies in the country which gives recognition to successful enterprise building and provides incentives for improved corporate performance. It looks at size, profitability and growth. With this year’s awards approaching, Tom Jackson takes a look at the current top five, who will be looking to retain their status this time round.

Produce Buying Company Limited (PBC)

A licensed cocoa beans trader, PBC was adjudged overall best company at the last awards, having moved up from 34th the year before. It scored a weighted average of 7.90 percent, with a turnover of $324 million. It is one of the biggest dealers in cocoa, sheanut and other cash crops in the West Africa region, purchasing them from farmers, preparing them and transporting them to buyers.

Currently, the company controls about 40 percent of the market share in the cocoa purchasing business. Until December 1999, PBC was wholly owned subsidiary of the Ghana Cocoa Board, but was subsequently privatised and listed on the Ghana Stock Exchange.

Auto Plaza Limited

“From little acorns the mighty oak tree grows” is a quotation that best describes the phenomenal rise of Auto Plaza Ltd, the only recognised distributor of Hyundai vehicles in the mainstream of the Ghana market. Auto Plaza took over the distributorship of the Hyundai brand in 2004, and has since grown into one of the largest, most diversified and professional vehicle distributors in Ghana. It can claim as having established Hyundai as the most recognised brand of vehicle on the Ghanaian market.

Enterprise Life Insurance Company Limited

Enterprise Insurance Company Limited is the pioneer in the insurance industry in Ghana, having been in operation for 80 years. It takes its roots from the Royal Exchange Assurance Corporation of the United Kingdom, which commenced business in the Gold Coast in 1924, then became Guardian Royal Exchange Assurance Ghana Limited, (GREG) and subsequently, Enterprise Insurance Company Limited, which is currently the only insurance company listed on the Ghana Stock Exchange. Enterprise Insurance is a leading corporate Insurer in Fire, Marine, Motor and General Accident.

Intercontinental Bank Ghana Limited (IBG)

A subsidiary of the Intercontinental Bank (Nigeria) Plc, IBG received its universal banking license from the Bank of Ghana in 2006 and commenced business soon after, following the acquisition of Citi Savings and Loans Limited, one of the leading loans and savings firms in Ghana. The bank’s vision is “to be the number one financial services institution in Ghana with a strong regional presence by 2016”, and this is evident in the steady growth in its assets and customer base in the past three years. The Bank has grown its customer deposits by an average of 120 per cent annually. Total assets have also grown by over 300 per cent.

However, with the successful merger between its parent company, Intercontinental Bank (Nigeria) Plc and another Nigerian bank, Access Bank, the bank has now begun operations under the platform of the Ghanaian subsidiary of Access Bank (Nigeria) Plc.

The Trust Bank Limited

Another growing company, moving from seventh to fifth over the course of a year. It was incorporated in 1997 to take over the business of Meridien Biao Bank Gambia, and began operations that year. The bank is engaged in Commercial, Corporate & International banking with 1005 shareholders. The major shareholders of the bank are Social Security & Housing Finance Corporation, DataBank of Ghana and other prominent Gambian institutions and individuals. The bank was listed on the Ghana Stock Exchange in November 2002.

Source: VENTURES AFRICA