Accra (Greater Accra) 18 Feb '99

Twelve new companies have been listed among the top 100 Ghanaian companies for their excellent corporate operations last year. Mr Kwesi Ahwoi, Chief Executive of the Ghana Investment Promotions Centre (GIPC) made this known at a luncheon in Accra yesturday to launch the 1998 members of the Ghana Club 100 and said the idea is to provide a world class forum for top ranking businesses to interact and share techniques for the overall benefit of the economy. The companies include Regimanuel Gray, Tractor and Equipment, First African Financial Services, North Kaneshie Forex Bureau, Taysec Company Limited and First African Forex Bureau.

The luncheon was attended by the Vice-President, Professor John Evans Atta Mills, Ministers of State, MPs and members of the diplomatic corps. The GC 100 were selected based on their net assets, profit before tax, number of employees, return on equity and growth between 1996 and 1997. Companies listed in the top 10 for 1998 are Ashanti Goldfields, Social Security and National Insurance Trust, Volta River Authority, Ghana Telecom, Mobil Oil Ghana Limited, Unilver Ghana Limited, Ghana Oil Company, Teberibe Goldfields and Shell Ghana Limited.

The two new entrants in the top 10 are Ghana Telecom and Teberibe Goldfields. Mr Ahwoi said the basis of business accounting was that of 1997 since the 1998 business accounting year is yet to end. The GIPC boss said " We intend establishing a distinguished speakers programme for the GC 100 members to interact with world class renowned personalities". He said in establishing the GC 100, the GIPC seeks to provide analytical information to promote Ghana's corporate capacity.

"In this endeavour, it is our intention to sensitise the operatives to develop an open information culture for the 21st century global competition". Mr Ahwoi said members of GC 100 will enjoy discounted fares when they fly on Ghana Airways, have free worldwide web hosting on Network Computer Systems and Ghana Classifieds sites free for six months and thereafter at highly discounted rates.