Companies operating in Ghana will be battling it out at the 2011 edition of Ghana Club 100 (GC100) scheduled for 12th September this year.
The Ghana Club 100, which is an annual compilation of the top 100 companies in Ghana to give due recognition to successful enterprise building, was launched by the Ghana Investment Promotion Centre (GIPC) in 1998.
Also, the GC100 is made up of the top 100 high performing companies in Ghana, from both the public and private sectors. The listing, grading, and rewarding are carried out annually, during which companies which make the mark join the list.
The GC 100 is about corporate excellence. Companies making it into the GC 100 are to serve as role models for the private sector, and provide a forum for corporate Ghana to interact with the government at a high level, the Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre (GIPC), Mr. George Aboagye, said at 2011 edition launch in Accra over the weekend.
According to him, the objective of the GC 100 is to develop an open information culture within the Ghanaian corporate sector; provide incentives for improved corporate performance; develop uniform criteria for evaluating corporate performance; and establish an annual and current analysis of Ghana’s corporate sector.
Mr. Aboagye explained: “The Centre believes that as Ghana continues to see itself as Africa’s Golden Gateway to a safe and secure investment destination for investors across the globe, it is incumbent on us to encourage the private sector operators to embrace internationally accepted practices and good corporate governance.”
The GIPC has always believed that the private sector has a lot to offer, and there was therefore the need to acknowledge the contribution and efforts of the sector. They cherish the fact that most of these players in the sector are prepared to subject their companies to this ranking, which seeks to reward and encourage high performance and transparency in doing business, the CEO stated.
Mr. Aboagye announced the eligibility criteria for the ranking of the 2011 edition of the GC 100 as follows: All entrants must be limited liability companies; for companies with government interest, government share ownership should be less than 50%, unless the company is listed on the Ghana Stock Exchange; and all entrants must have cumulative net profits that are positive for the most recent three year period. For the 2011 GC 100 rankings, this will be 2009, 2010, 2010 and 2011.
He stated that all businesses which wish to be considered for these prestigious awards are requested to submit documents such as audited accounts for 2009, 2010, and 2011; one page soft copy of company profile and logo; and hard and soft copies of their CEOs passport size picture to the GIPC by 15th July, 2012.
Mr. Aboagye told journalists: “There will be awards for the top 100 businesses and the leading companies in each of the strategic sectors, such as best company in agric and agribusiness, financial services, ICT, services, infrastructure, petroleum and mining services, manufacturing, tourism, health and education, while special awards will be given to outstanding business performers in selected categories including corporate social responsibility.”
The 2010 GC 100 rankings showed anticipated and interesting results. The financial services sector showed remarkable performance by dominating the top twenty ranked companies.
Auto Plaza Limited, an automobile company was able to maintain the second position it enjoyed last year (2009). Surprisingly, this is the first time that the Producing Buying Company Limited has taken the position as the leading company for 2010 GC 100, moving up from the 34th position in last year’s rankings.