Ghana's economy has grown significantly over the last few decades. Although it has experienced some lows and challenges, it is still growing, and many citizens and residents have better quality lives now. Private and public companies have contributed to this growth. The richest companies in Ghana earn the country millions of dollars in revenue.
Which are the richest companies in Ghana, and how much do they generate? Read on to discover the top 10 wealthiest firms and their contribution to the country's economy.
Top 10 richest companies in Ghana in 2022
The top companies in Ghana listed below are ranked depending on their annual revenue. They have a track record of making significant profits each year and supporting the country's economy.
10. Zoomlion Limited
- Sector: Waste management and environmental protection
- Gross revenue: GHS 101.4 million
Zoomlion Limited was established in 2006. It is among the top waste management and environmental protection firms in the country and other parts of the continent. It offers integrated waste management solutions and is a member of the Environmental Services Providers Association (ESPA). In 20221, it made revenues totalling GHS 101.4 million or USD 13 million.
9. GCB Bank Limited
- Sector: Banking
- Gross profit: GHS 323.13 million
GCB Bank Limited is formally known as Ghana Commercial Bank. It is one of the top banks in the country for individuals and businesses. It has multiple programmes to support SMEs, and multiple other services are offered. This financial institution made a gross profit of GHS 323.13 million.
8. Guinness Ghana Breweries Limited (GGBL)
- Sector: Beverage production
- Gross profit: GHS 684.98 million
Guinness Ghana Breweries Limited (GGBL) is the leading total beverage business in the country. It was established in 1960, and it produces a variety of beverages, including beer, stout and spirits. It is the only beverage production company listed on the Ghana Stock Exchange. In 2019, the firm earned a revenue of USD 118.6 million or GHS 684.98 million.
7. Ecobank Ghana PLC
- Sector: Banking
- Asset size: GHS 17.93 billion
- Gross revenue: GHS 893.73 million
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Ecobank Ghana PLC is a private limited liability company that started in January 1989. Today, the bank has 67 branches countrywide. Over the years, the bank has grown and is now listed among the top 10 companies in Ghana.
In July 2006, the banking business was listed on the country's stock exchange. In 2021, the firm had assets worth GHS 17.93 billion and made gross profits of GHS 893.73 million.
6. Total Petroleum Ghana
- Sector: Petroleum and energy
- Gross revenue: GHS 2.39 billion
Total Petroleum Ghana is among the big companies in Ghana in 2022. This firm deals with fuel and energy provision. It provides solar solutions for Ghanaians and supplies high-quality fuel for the road and aviation industries. In 2020, the company made a gross revenue of GHS 2.39 billion or USD 413 million.
5. Ghana National Petroleum Corporation (GNPC)
- Sector: Petroleum
- Gross profit: GHS 3.8 billion
GNPC was established in 1983 and is Ghana’s National Oil Company. Its mandate is to provide an adequate and reliable supply of petroleum products and reduce the country's dependence on crude oil imports. In 2020, the firm earned the country a gross revenue of GHS 3.8 billion or USD 666.4 million.
4. Tullow Oil plc
- Sector: Oil and gas
- Gross profit: GHS 4.94 billion
Tullow Oil plc is a fully-registered firm in the country and South America. It works across all stages of the oil life cycle from exploration to production and ensures it supplies high-quality oil and gas to different parts of the world. In 2021, the company made a gross profit of $634 million or GHS 4.94 billion.
3. Ghana Oil Company Limited (GOIL)
- Sector: Petroleum and energy
- Gross revenue: GHS 5.56 billion
Ghana Oil Company Limited (GOIL) is one of the best companies in Ghana in terms of revenue generation. The firm was established in 1960, and in 1974, the government acquired it. It markets quality petroleum and other energy products. The firm's gross revenue in 2020 was GHS 5.56 billion, or USD 859.76 million.
2. MTN Ghana
- Sector: Telecommunications
- Gross revenue: GHS 7.72 billion
MTN Ghana is a provider of telecommunications services. Some of its services are cloud services, network and data, communication and collaboration, Internet connectivity, messaging, and security solutions. In 2021, the firm's total revenue was GHS 7.72 billion.
1. Newmont Corporation
- Sector: Mining
- Gross revenue: GHS 17.94 billion ($2.3 billion)
Newmont Corporation is one of the multinational companies in Ghana. It is a leading gold mining company. It also produces copper, zinc and lead. Besides the country, the company has established itself in North America, South America, and Australia.
The firm was publicly traded for the first time in 1925. In 2021, the company made revenues totalling $2.3 billion or 17.94 billion GHS.
Which is the richest company in Ghana in 2022?
The richest company in Ghana is Newmont Corporation, with annual revenue of $2.3 billion or 17.94 billion GHS.
How many companies are there in Ghana?
There are over 92 thousand registered companies in the country.
The richest companies in Ghana form the backbone of the nation's economy. They generate significant amounts of revenue annually and employ thousands of people.
Yen.com.gh recently published a list of the top 25 richest Ghanaians and their net worth in 2022. The country's economy has grown significantly over the years. People have invested in various sectors, and some have made significant amounts of money.
Some of the wealthiest citizens in 2022 are Charles Ampofo, Ernesto Taricone, and Sir Sam E. Find out who the others are.