Top 10 Richest Companies In Ghana 2020

Top 10 Richest Companies In Ghana 2020 – By virtue of its blossoming economy, Ghana has become one of the African countries that attract foreign investors from Asia, Europe, and other continents. The widespread of multi-billion Ghanaian companies in key sectors (such as banking, oil & gas, agriculture, foods and beverages, telecommunications, etc.) clarifies that Gh is on a reasonable path of national development with substantial growth in GDP. { Richest Companies In Ghana }.

Owing to the belief that top companies contribute in no small measure to the GDP growth of Ghana, we have chosen to discuss the Top 10 Richest Ghanaian Companies as well as the significance these companies have impacted in their various sectors.  

Top 10 Richest Companies In Ghana 2020

• 1. Scancom Ghana Limited (MTN)

Scancom Ghana is the biggest player in Ghana’s telecommunication sector. It is the Ghanaian operator of MTN -a renowned telecom company with main headquarters in South Africa.

Telecommunications seems to be a thriving sector for the class of early entrants (particularly the innovative ones that have successfully adapted to the general dynamic customer trends in Ghana) and Scancom Ghana isn’t excluded from this class.

In 2012, Scancom Ghana’s annual turnover measured up to 6% of Ghana’s GDP. Year after year, the company experienced a favourable increase in turnover. In the entirety of Ghana, Scancom Ghana is the telecom company with the biggest market stake in telecommunication and voice services.

Scancom Ghana Limited (MTN) 

Asides offering data and voice services, MTN is involved in allied telecommunication services which include Internet Services and Products, MTN Business Solutions and MTN Mobile Money.

MTN Ghana is now facing severe competition and the company seems to have gradually declined in annual earnings, customer base, and market share.

• 2. Olam Ghana Limited

Olam Ghana Limited is the Ghanaian subsidiary of Olam -a global company concerned with the exportation of agricultural products. Precisely, the company commenced business in Ghana by solely exporting shea nuts. However, at a later time, it diverted efforts to the exportation of coffee, cashew, and cotton. Currently, the company has extended its export base with the addition of several other commodities including rice, sugar, and cocoa. In the export trade, the company boasts a large market share in each of its export commodities.

Olam Limited – Second Richest Company In Ghana

Though Olam Ghana is not listed on the Ghana Stock Exchange, the company has contributed tremendously to the growth of Ghana’s economy which is largely dominated by the agriculture sector. Across Ghana, there are Olam Ghana district offices at which products are directly purchased from local farmers and processed. At a later time, the products are transported to the company’s storehouses for further processing and storage until exportation is required.

• 3. Total Petroleum Ghana Limited (TPGL)

Total is a major player in the global oil & gas industry and its Ghanaian subsidiary is known as Total Petroleum Ghana Limited (TPGL).

TPGL began operations over 50 years ago and it is a genuine member of the Total Group. When it commenced operations around the 1950s, it went by the name ”Total Products”. Ever since, the company has experienced acquisitions, mergers, and name changes. Of all the acquisitions and name changes it has experienced, the latest was when Mobil Ghana was acquired by the French oil giant and changed to Total Ghana Petroleum.

Total Petroleum Ghana Limited (TPGL)

Amongst other leading Ghanaian companies, Total has remained a vibrant force as well as one of the most contributive companies to Ghana’s economy. Estimated as of December 2012, TPGL has whopping assets worth over 300 million cedis plus annual turnover exceeding 300 billion Ghana cedis.

Across Ghana, there are more than 220 service stations owned by Total Ghana. Besides the retailing of allied products and services, Total Ghana engages in the sale of various aviation fuel and road transport products.

Total Ghana bears the trade name ”Total” on the Ghana Stock Exchange Market and quite, unfortunately, it has been battling severe competition due to the arrival of myriads of companies into the business of fuel products.

• 4. Ecobank Ghana Limited

Ecobank Ghana Limited is the Ghanaian unit of Ecobank Group -the Pan-African bank with business coverage in other 33 African countries and headquarters in Lome, Togo. Ecobank seems to have thrived substantially in Ghana owing to the fact that Ghana has a lucrative and suitable banking atmosphere.

Ecobank commenced business in Ghana around the 1990s. Ever since it has succeeded in spanning branches throughout Ghana.

Ecobank Ghana Limited 

The Bank of Ghana (Ghana’s regulatory banking authority) endorsed the sale of The Trust Bank (TTB) to Ecobank Ghana in 2011. Meanwhile, Ecobank Ghana sacrificed the estimated sum of GHc 220 million for the acquisition. Besides helping the bank increase its branch networks, this acquisition boosted the bank’s assets and pushed the bank [Ecobank Ghana] ahead of other Ghanaian banks in terms of assets. Ecobank Ghana is denoted with the trading symbol ”EBG” on the Ghana Stock Exchange.

• 5. Benso Oil Palm Plantation Limited (BOPP)

BOPP is the fifth-largest company in Ghana. It is a publicly-traded company concerned with the activities of manufacturing and processing oil palm. Besides dominating a large portion of West Africa’s palm oil market, BOPP commands influence as the biggest player in Ghana’s palm oil market. Meanwhile, it is widely recognized for churning out various oil products including vegetable oil, RBD palm olein, and RBD palm oil. A large volume of its products is exported to Asia, America and the European Union.

BOPP is owned by the duo of Unilever Ghana (a thriving manufacturer of consumer goods) and the Ghanaian government. The company allocates fertile tracts of land to small-scale farmers for the cultivation of the palm. After being harvested, the palm is set for further processing.

• 6. Fan Milk Ghana Limited (FML)

Fan Milk Ghana Limited is a company that manufactures and distributes fruit-based and dairy products. The love Ghanaians have for milk products has apparently added a fortune to the company, making it one of the largest companies in the country.

About 56.6% of the company’s stakes were sold to Abraaj Capital -an equity investor in Dubai. Currently, Abraaj Capital is the largest stakeholder in FML whose products are divided into two major categories being (i) fruit-based products, and (ii) milk-based products.

In Ghana, Fan Milk is unarguably the biggest player in its line of business but the company’s revenue portfolio and its market share are facing competition due to the constant rise of new ice cream companies.

• 7. I-zone Ghana

I-zone Ghana is one of the Ghanaian companies that are silently making a great fortune. The company exclusively maintains the right to distribute MTN products in Accra. Likewise, it is the only company authorized to deal out mobile phones in all the MTN sales stores in Ghana. In addition, I-Zone Ghana is concerned with internet solutions and certain other telecom related services.

• 8. GCB Bank Limited

GCB Bank Limited is one of the major players in Ghana’s banking sector. It was previously known as Ghana Commercial Bank. Its origin dates back to the era of pre-independence in Ghana. Precisely, it was established in 1953 as the Bank of the Gold Coast. The bank has experienced a series of name changes initially from Bank of the Gold Coast to Ghana Commercial Bank and from the latter to present-day GCB Bank Limited.

The company is owned by both the Ghanaian government and the combination of individual and institutional investors within and outside Ghana. The combined investors hold a larger stake while the Ghanaian government accounts for only 21.36% of the company’s stakes.  

In May 2013, an agreement was reached by its shareholders to change its name to GCB Bank Limited from the previous Ghana Commercial Bank Limited. With this change of name in 2013, the company marked its 60th year of existence. Today, the company is denoted with the trade name ”GCB” on the Ghana Stock Exchange.

Amongst the contenders in its business line, GCB boasts the highest number of branches -more than 150 branches spanning across Ghana.

• 9. Guinness Ghana Breweries Limited (GGBL)

Guinness Ghana Breweries Limited is the Ghanaian offshoot of Diageco Plc -an acclaimed brewing company. The love Ghanaians show for beverages (including alcohol) has contributed in no small measure to the towering fortune of this brewing company.

GGBL came into being through the merger of two giant brands namely Ghana Breweries and Guinness Ghana. Luckily, this merger has given Guinness a clear-cut edge over its contenders in the brewing industry. Both in terms of consumer base and revenue generation, GGBL has recorded a substantial upswing, making it one of the largest companies in Ghana. Importantly, the company produces both non-alcoholic and alcoholic beverages of various sorts. Also, its products are aimed at both local consumption and importation.

• 10. Zoomlion Ghana Limited

Zoomlion Ghana Limited is a leading Ghanaian-owned company in the business of waste management. It is one of the member companies under the Jospon Group of Companies belonging to Dr. Joseph Siaw Agyepong -a Ghanaian business tycoon.

Founded around the early 2000s, Zoomlion Ghana Limited has earned massive recognition for its unrivaled sophistication in waste management in Ghana. The company boasts over 800 employees within Ghana and it spans its operations beyond Ghana with branches in 5 African countries.

That’s all about The Richest Companies In Ghana 2020.

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Tags: Richest Companies In Ghana 2020, Wealthiest Ghanaian Companies