Multinational companies in Ghana enhance the country's economic growth. Ghana has enough resources for local and foreign investors to exploit. Several local firms have grown into multinational companies. However, most potential local investors face financial challenges that hinder them from investing extensively, unlike external investors. As a local investor, do not worry about competition from foreign companies because the government's strict laws and strategies regulate both parties' activities and promote fair competition.
The history of multinational corporations in Ghana reveals that most of these companies originate from Europe and America. There were 37 more American companies in Ghana between 2011 to 2016. The government is transforming the local economy into an export-led economy to nurture local companies into multinational businesses. A strategic export-led economy exposes local investors to international trade initiatives like the Economic Partnership Agreement (EPA) and the African Growth and Opportunity Act (AGOA).
What are the top 10 multinational companies?
Foreign companies' branches must have the country's name regardless of their parent companies' country of origin. For example, MTN Ghana and Ecobank Ghana Limited. Below are the best multinational companies in Ghana:
1. Coca Cola
Everyone in the world knows this global soft drink brand, thanks to how heavily they invest in marketing and advertising. The plastic bottling and sugar-free versions as popular as their other products.
MTN dominates the nation's telecommunication industry because it is a pioneer media transmission and telecommunication service company. Some of the innovative services that help it outshine its rivals include MTN Mobile Money services and customer reward points.
KPMG, one of the big four accounting firms worldwide, is a combination of accounting and auditing firms that offer professional services to over 147 countries. KPMG Ghana has more than 500 employees.
4. Olam Limited
Investing in this country helped Olam to become an agribusiness giant worldwide. Olam is the leading food and industrial raw materials supplier globally, from cocoa, cashews, coffee, and rice, to over 19,800 countries in the world. However, the company is not listed on Ghana Stock Exchange.
5. Total Petroleum Limited
Total petroleum, a Total Group branch, is a pioneer oil and gas company in the world and the first international company in Ghana. It was established in this nation over 50 years ago, and it records more than 3 billion Ghana Cedis annual turnover yearly.
6. Ecobank Limited
Ecobank is exceptionally beneficial in the country's financial sector. It is a local unit of the Pan-African bank, Ecobank Group. Ecobank Group's headquarters are in Lome, Togo, and it has branches in over 33 African nations. The bank began operating in the country in 1990 and procured TTB (The Trust Bank) for GHC 220 million in 2011.
7. Benso Oil Palm Plantation Limited (BOPP)
The government-owned company processes palm oil and related products like RBD palm oil and vegetable oil. It is the largest palm oil producing company in West Africa and exports its products to Europe, America, and Asia. Moreover, BOPP expanded its investments into the oil refinery business and oil mixing.
8. Fan Milk Limited (FML)
The company makes a fortune out of various milk desserts, including yogurts, organic citrus drinks. Their drain-based and natural milk products are natives' favorite food. Abraaj Capital, a Dubai-based financial specialist, began controlling FML's international operations after obtaining 56.6% of its shares. The takeover enabled the company to meet the market requirements of the country's milk industry.
9. Guinness Breweries Limited (GGBL)
GGBL capitalizes on the locals' rich drinking culture; hence top companies in Ghana that invest in alcoholic refreshments experience quick success. Guinness breweries produce and sell both alcoholic and non-alcoholic drinks.
It is among the top European companies in Ghana since it was established on 14th July 1992. Unilever's headquarters are in London and Rotterdam, and it has extended branches to over 190 countries worldwide. The company makes food and beverages, beauty products, cleaning agents, and personal care products.
Multinational companies in Ghana enhance the flow of money in the country's economy because some earn a gross income that way more than the country's yearly budget. Furthermore, these corporations have more advantages, including employment creation, and they are the highest paying companies in Ghana.
Yen.com.gh made a list of the best investment banks in Ghana. What are investment banks? They are unique banking organizations that help their clients (individuals or organizations) raise capital for business investments and help new firms go public.
These financial institutions also provide them with financial consultancy services and act as intermediaries between investors and security issuers. They walk with the client throughout their journey toward financial independence.