In Africa, Ghana’s economy is one of the strongest and most expanded. This article points out the Top 5 Richest Companies of Ghana that serve the country and gives a reasonable amount of revenue.
Ghana has been ranked as the ninth-largest economy in Africa. Gold, Cocoa, Petroleum are some of the biggest revenue generators for the Economy.
Telecom giants, MTN keeps the lead as the richest company in Ghana. The key factor which made it a regional power in West Africa is its economic prosperity and democratic political system.
The following are the Top 5 Richest Companies in Ghana.
MTN Ghana (Scancom)
MTN Ghana is the richest company in Ghana. MTN has over 20.9 million subscribers. Due to increasing technology MTN proceed to dominate the telecoms space. It holds 53% of the market share. Coming from South Africa, the company (Scancom) took the lead to present mobile money in Ghana. This initiative turned into another enormous wealth-creation chance for the company. The major competitors of MTN are Vodafone Ghana and AirtelTigo. MTN Ghana is the richest among all. No doubt in 2018, MTN had been considered for over 7% of Ghana’s gross national product (GDP).
Ghana oil company (GOIL) is counted in the top 5 richest Ghana company. It was formed on 14 June 1960. It is state-owned. 51% of the Goil shares are held by the government. The remaining 49% of shares are owned by the contributors. Goil deals which lots of products like diesel, lubricants, aviation fuel, etc. In 2019, Goil’s steadfast company spirit allowed them to track record of over 8% expansion in sales. The company’s business resource value was standing at an astonishing $120 million since 2019. Goil is also the only indigenous-owned petroleum marketing firm in Ghana. Goil has 300+Service Points.
Produce Buying Company
An alternative definition of the rich firms in Ghana is Produce Buying Ltd. The company crested to the number 1 place on the list of top 10 richest firms in Ghana from 2008 to 2020. In the West Africa sub-region, it is one of the largest suppliers in cocoa, shea nut, and other cash crops. There are no two ways that the company is too rich and continues to be the topping charts in Ghana. Produce Buying Ltd is a state-owned company under the Cocoa Board. Ghana is one of the world’s largest manufacturers of cocoa in the world. Produce Buying Company purchases high-quality cocoa beans/shea nuts from farmers. After processing company stores them in purpose-built sheds. In 2019, the Company made about $414 million in revenues.
Newmont Golden Ridge Ghana
Newmont is the world’s leading gold company. It is a giant producer of copper, lead, silver, and zinc. It is one of the top 10 richest Ghanaian mining company. The firm mines valuable minerals such as gold (Au), Copper (Cu), and Silver (Ag). The Company’s world-class assortment of resources, chances, and talent is secured in advantageous mining states in North America, South America, Australia, and Africa. Newmont brags of having a huge stockpile of gold in the mining industry. This is because they are shareholders of ores in many fertile mining towns. The net worth of the company is hard to estimate. In early 2020, their net income was around $780 million.
Tullow Ghana is also known as Tullow Oil PLC. It is an Irish Company. It was established in Ghana in 2007. Tullow is a multinational oil and gas exploration company. It also runs its businesses in 6 other African companies. The mainstream Tullow’s manufacturing comes from Jubilee and TEN fields in Ghana. It is founded in Tullow, Ireland with its headquarters in London, United Kingdom. Majorities of its movements are in Africa and the Atlantic Margins, where it has uncovered new oil fields in Ghana, Uganda, Kenya, and French Guiana. Tullow Oil PLC is not a trivial company. They are rich head-to-toe. Their enormous investment in heavy-duty machinery accounts for Tullow’s 74% achievement rate in drilling. In late 2019, Tullow Oil was stated to have yielded $1682 million in revenue and has a net income of $1694 million.
There you have the complete list of the best 5 richest companies in Ghana. The standards for this list were centred on the yearly economic reports of the firms, their assets, exposed to statistics from the Ghana Stock Exchange. If a company did not make this list, it does not imply that it is not rich. After all, “riches” is qualified.