The country’s largest-buyer of cocoa beans, Produce Buying Company (PBC), has been ranked number-one in Ghana, up from the 34th position last year in the Ghana Club 100 rankings.
PBC scored first with weighted average of 7.90 %, and fourth with its 2010 turnover figure of GH¢ 632,902,845, toppling Toyota Ghana on the country’s corporate excellence performance ranking.
Auto Plaza Limited, Enterprise Life Assurance Company Limited, Intercontinental Bank Ghana took the second, third and fourth position respectively.
Auto Plaza Limited was able to maintain the second position it enjoyed last year, while Toyota Ghana Company Limited which was first in the 2009 ranking dropped to 16th position.
The Club 100 rankings in its 11th edition showed interesting results, with the financial services sector showing a remarkable performance by dominating the top-20 ranked companies.
The Trust Bank Ghana Limited, Danadams Pharmaceuticals Industry Limited and GT Bank as well as Ecobank Ghana Limited, Gold Fields Ghana Limited and Zenith Bank occupied the fifth to 10th position respectively.
The Trust Bank Ghana Limited moved from the seventh position last year to fifth position in 2010. GT Bank, the new entrant placed at seventh position.
Wienco Ghana Limited, IPMC, and Scancom Limited maintained leadership in their respective sector rankings.
The top-three largest companies in the 2010 rankings – Gold Fields Ghana Limited, Scancom Limited and Total Petroleum Ghana Limited, were not among the top-five ranked companies.
The Ghana Club 100 is an annual award designed by the Ghana Investment Promotion Centre (GIPC) to identify and award the country’s best 100 companies with the objective of developing an open information culture within the Ghanaian corporate sector, and also provide incentives for improved corporate performance.
It is as well to develop uniform criteria for evaluating corporate performance which would establish an annual and current analysis of the country’s corporate sector.
The Ghana Club 100 ranking is tabulated with this year’s rankings calculated on the companies’ size (25%), profitability (35%), and growth (40%).
Government commitment
The Vice President, John Dramani Mahama, in a speech read on his behalf said: “Government will continue to put in place strategic measures which seek to remove bottlenecks to the sector’s growth and build the confidence of operators.
“These measures will include initiatives that are aimed the reducing the cost of doing business, attracting investors, and also equipping our youth with the critical skills and knowledge required in the various sectors of the economy.”
He assured the private sector community of government’s unwavering commitment to the adoption and implementation of sound economic and macroeconomic policies aimed at improving the Ghanaian economy and promoting an enabling environment for doing business in the country.
He added that the economy continues to experience robust economic expansion in 2010, with a real GDP growth rate of 7.7percent following a relatively low rate of 44 percent in 2009.
This achievement, he said, was made amidst the uncertainties in the global economy which was characterised by volatility in the commodity price, slow recovery in the United States, stagnation in Japan, and the continuing sovereign debt crisis in the euro-zone resulting in major bail-out measures implemented in some countries.
“All key economic indicators are signal to an increasing pace of economic activities in the economy in 2011 compared to the same period in 2010.
“The fact that Ghana continues to attract tremendous amount of FDI - with the local business community as the first and ultimate point of contact for foreign investors - is a sure of sign of the increasing faith being generated in the Ghanaian economy as a whole and our private sector in particular.
“The crucial role of the private sector in the development of a country will always be recognized, and as a result, the sector will continue to receive priority attention of government,” he said.
Mr. George Aboagye, Chief Executive Office, GIPC, said: “The Centre will continue to recognise the role of the private sector in the developmental agenda of the country, and will acknowledge the sector’s contributions and efforts in nation-building.
“As Ghana continues to position itself as Africa’s gateway to a safe and secure destination for investors across the globe, we will need to further encourage the private sector to endeavor to conform to best business practices that are internationally accepted,” he said.
Mr. Aboagye observed that with the aggressive investment promotion activities and improved economic conditions, foreign direct investment to the country rose significantly.
The total number of projects registered for the first half of 2011 was 236, with a total estimated value of US$978.74million (GH¢1.47billion). 213 projects were registered for the corresponding half of 2010 with a total estimated value of US$850.84million (GH¢1.19billion).
The total initial capital transfers amounted to US$165.93million (GH¢248.90million) for the period under review, while transfers in the corresponding half-year of 2010 amounted to GH¢42.50million (US$30.36million).
Of the 236 registered projects, 137 were wholly-owned foreign enterprises and 99 were joint ventures between Ghanaians and foreign partners.
Top-10 Ghana Club 100 Rankings
Ranking Company Name
1 Produce Buying Company (PBC)
2 Auto Plaza Limited
3 Enterprise Life Assurance and Company limited
4 The Intercontinental Bank Ghana Limited
5 The Trust Bank (TTB)
6 Danadams Pharmaceuticals Industry Limited
7 GT Bank
8 Ecobank Ghana Limited
9 Goldfield Ghana Limited
10 Zenith Bank
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