The Ghana Club 100

Ranking Criteria

Eligible companies are ranked on the following parameters:


This is measured using the company’s turnover for the year being ranked. Turnover for the banks is measured by their gross interest income plus commissions and fees, while turnover for insurance companies is measured by net premium earned plus investment income.


A universally accepted measure of profitability is the Return on Equity (ROE). This indicates the return that management has created for the shareholders of the company. This is measured by calculating the 3–year average ROE for the companies.


This gives recognition to companies that are growing at impressive rates. Such companies are usually growing because of excellence in product development, marketing and effective management. This is measured using the 3-year compounded annual growth rate of turnover over the period two years before the year being ranked to the year being ranked. 

Ranking Process/Methodology

The following process are used to determine a company’s overall rank in the GC100:

  1. All companies are ranked on each of the three parameters listed here.
  2. A weighted rank is calculated by applying the following weights to a company’s rank on each parameter:
    • Size
    • Profitability
    • Growth
  3. An overall rank of a company in the GC100 is then obtained from a company’s weighted average rank obtained in 2 above.
  4. All ties in ranking are eliminated using growth as a tie breaker. 

Sector Rankings

Sector rankings will be produced for the following sectors: Agric and Agribusiness, Education, Financial Services, Health, Information & Communications Technology, Infrastructure, Manufacturing, Media, Petroleum & Mining Services, Services, Tourism. The rankings are based on a company’s position in the overall GC 100 rankings. For example if two companies A and B are in the same sector and company A outperformed company B in the overall rankings, then in the sector ranking company A is considered a better performer.

Special Awards

These awards are given for specific categories which in the estimation of the Ghana Investment Promotion Centre deserve particular mention.

For the 17th Edition of the GC 100 Awards, the following special  awards will be given.

  • CSR Award
  • UNICEF Award to the Company with Most Child Friendly Policy.
  • The GC100 Company of the Future Award