Jobdirecta Blog Jobs and careers in Ghana 2025
The problem with African countries is not always about abject poverty. Take a trip to sub-Saharan Africa, and you will realize that there are top 10 richest companies in Ghana as of 2020. Over the past few years, Ghana has had her fair share of corrupt politicians.Â
They came to loot and fill their packets while the average citizenry gnashed their teeth in hunger. When the embezzlement of state funds reached its peak, Ghana was turned upside down. The peaceful country had reached an unsustainable tipping point of indebtedness.Â
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But thanks to the timely intervention of the World Bank, Ghana was relieved of her indebtedness. To some extent, successive governments were able to reshape the country’s destiny from grass to grace. As we speak today, Ghana is full of wealth. Businesses are soaring, despite the Covid-19 pandemic.Â
Top 10 Richest Companies in Ghana 2020
In no particular order, here are the top 10 richest companies in Ghana.
- MTN Ghana (Scancom)
- Guinness Ghana Breweries Limited
- Produce Buying limited
- Ghana Commercial Bank (GCB)
- Goil Ghana
- Newmont Golden Ridge Ghana
- Ghana National Petroleum Company (GNPC)
- Zoomlion Ghana Limited
- Total Petroleum Ghana
- Tullow Ghana
MTN Ghana (Scancom)
For over 10 years, MTN Ghana has dominated the telecommunication industry in Ghana. Now, the leading telecom giant is sitting on a mountain of wealth, thanks to their large customer base in Ghana. Coming all the way from South Africa, the company (Scancom) took the lead to introduce mobile money in Ghana.Â
This initiative became another big wealth-creation opportunity for MTN. In all, they got richer and richer than their main competitors, namely Vodafone Ghana and AirtelTigo. No wonder in 2018, MTN accounted for over 7% of Ghana’s gross domestic product (GDP).
Total Petroleum Ghana
If you want to know the most valuable companies in Ghana, take a look at the oil sector. Total Petroleum Ghana Limited is one of the top 10 richest companies in Ghana. And there’s nothing surprising about that. As an international company, Total saw a great window of opportunity to launch itself in Ghana. They did not miss it. Total went ahead to buy the then-struggling Mobil Ghana oil company and rebranded it as one of their companies.
With more than 270 service stations throughout Ghana, Total has cemented its position in Ghana as a wealthy company. Aside from their sale of fuel (petrol and diesel), the company also sells lubricants, gas cylinders and other products. In 2019, Total’s contribution to the Ghanaian economy hit GHC 400 billion.Â
Goil Ghana
Ghana Oil company (Goil) is a state-owned top 10 richest Ghana company. Government holds 51% of Goil shares while the remaining 49% is owned by individual contributors. What does Goil deal with? Basically, they’re into a lot of products — diesel, lubricants, aviation fuel, etc. In 2019, Goil’s unwavering business spirit enabled them to record an 8% growth in sales. The company’s asset value stood at a staggering $120 million as of 2019.
Produce Buying limited
Another definition of wealthy companies in Ghana is Produce Buying Ltd. Within the span of 2008–2010, the company peaked to the number 1 spot on the list of the top 10 richest companies in Ghana.Â
But who are they, and what do they do? Produce Buying Ltd is at the center of cocoa processing, shea nut processing, as well dealing with coffee and even in the hospitality industry.
No wonder the company is too rich and still topping charts in Ghana. Produce Buying Ltd is a state-owned business under Ghana Cocoa Board. As you may be aware, Ghana is one of the largest producers of cocoa in the whole world. In 2019, Produce Buying company netted about $414 million in revenues.
Newmont Golden Ridge Ghana
Perhaps everyone has heard about Newmont Gold; it’s a top 10 richest Ghanaian mining company. The company mines precious minerals such as gold (Au), Copper (Cu), and Silver (Ag).
Newmont boasts of having a large reserve of gold in the mining industry, simply because they are shareholders of ores in many fertile mining towns. Newmont’s net worth is hard to estimate, but as of early 2020, their net income was around $780 million.
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Tullow Ghana
Also known as Tullow Oil PLC, Tullow is an Irish company which established its Ghana branches somewhere in 2007. But apart from Ghana, the company also runs businesses in 6 other African countries. So, it’s also a top 10 multinational company in Ghana.
The Jubilee Oil Fields contribute greatly to Tullow’s profits. With a capacity to produce 30,000, oil barrels a day, Tullow Oil PLC is not a small company. They are rich from head to toe. Their massive investment in heavy-duty machinery accounts for Tullow’s 74% success rate in drilling.
In late 2019, Tullow Oil was reported to have made $1682 million in revenue, and netting an income of $1694 million.
Ghana Commercial Bank (GCB)
GCB Bank has over 200 branches scattered around Ghana’s 16 regions. With the total number of its employees reaching 1700, you don’t need to doubt whether Ghana Commercial Bank has money. Yes. It’s a top 10 richest company in Ghana. That’s understandable because GCB is as old as Methuselah. Their foundation in Ghana stretches back over 67 years into the past. Back in the old days, GCB was known as the Bank of Gold Coast. Government owns just 21% of its shares, while some members of the public take the remaining shares.
In late 2019, GCB’s asset value was about GHS 11 million.Â
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Ghana National Petroleum Company (GNPC)
For sure, GNPC is among the list of the wealthiest Ghanaian companies. As the name implies, GNPC is a state-owned petroleum and natural gas company. It’s impossible for them to be poor; GNPC’s history goes to 1983 when it was established to ensure that Ghana makes the most out of her petroleum resources.
As of 2020, the company reported a revenue of $300 million.
Zoomlion Ghana Limited
If you were thinking that a waste management company such as Zoomlion Ghana, cannot make the list of the richest companies in Ghana, then you’re wrong. Zoomlion goes down in Ghanaian history as one of the most successful private companies. The company was established in 2006 by one Dr. Joseph Siaw.
Towards the latter part of 2019, Zoomlion Ghana reported a revenue of $616 million, and an profit increment of 116%.
Guinness Ghana Breweries Limited
Ghanaians love to drink Guinness beer, isn’t it? Well, that also contributes to make Guinness Ghana a rich Ghanaian company. The company existed out of the 2000 merger of Ghana Breweries and Guinness Ghana. Since then, the rest of their story is nothing but richest and success.
Conclusion
Ladies and gentlemen, there you have the full list of the top 10 richest companies in Ghana. The criteria for this list was based on the yearly (2019) financial reports of the companies, their individual assets, subjected to figures from the Ghana Stock Exchange. If a company didn’t make this list, it doesn’t mean that it’s not rich. After all, “riches” is relative.Â
