Unearthing Ghana’s Hidden Economic Giants: A Journey of Discovery

Unearthing Ghana’s Hidden Economic Giants: A Journey of Discovery

In a quest for the true economic landscape of Ghana, a curious mind embarked on a journey, delving into the corporate world, and what they unearthed is nothing short of an eye-opener. The story begins with a search for the top companies in Africa, and what lies beneath the surface is a revelation that challenges preconceived notions about the origin of Ghana’s leading businesses.

A Deeper Dive

The initial investigation sought to identify the top 100 companies in Africa, and it quickly became apparent that none of Ghanaian origin made the list. The search didn’t stop there, as a broader scope was cast upon the top 500 companies in the continent. The findings were staggering.

Out of the top 500 companies, approximately 170 hailed from South Africa, constituting a significant 30% share. Morocco followed with 68 companies, representing 14% of the total. Nigeria, the most populous nation in Africa with an estimated 181 million people, had a mere 30 companies, making up just 6% of the entire list. Ghana’s representation was shockingly minimal, with only 11 companies, accounting for a mere 2% of the total.

A Closer Look at the 11 “Ghanaian” Companies

Upon closer examination, the portfolio of these 11 “Ghanaian” companies was dissected, and the results were revealing. First, it became apparent that 4 out of the 11 were state-owned entities, including the Produce Buying Company [PBC], Volta River Authority [VRA], Ghana Oil Company [GOIL], and Social Security and National Insurance Trust [SSNIT]. The focus here was not on assessing the management of these government institutions but rather highlighting their presence.

The remaining seven companies were scrutinized to uncover their true origins and ownership.

The Foreign Roots

1. Golden Star Resources: While it may operate in Ghana, this mid-tier Canadian gold mining company is far from Ghanaian in origin, with its headquarters in Canada.

2. Total Petroleum Ghana: A subsidiary of the global Total Group, a French multinational, the presence of Total Petroleum Ghana traces back to a larger international entity.

3. Chirano Gold Mines: Owned 90% by Toronto-based Kinross Gold Corporation, with only a 10% interest held by the Government of Ghana, this too falls under the category of foreign-controlled subsidiaries.

4. Abosso Goldfields: As a subsidiary of Gold Fields International, which originated in South Africa in 1932, Abosso Goldfields holds foreign roots.

5. Tarkwa Mines: Owned by Gold Fields, it’s evident that the foreign influence extends to the mining industry.

6. Tullow Ghana: Tullow Oil plc, a multinational oil and gas exploration company founded in Ireland, operates Tullow Ghana as a subsidiary.

7. MTN Ghana: While you may be familiar with MTN Shares, it’s important to note that MTN Ghana is not a Ghanaian company. Its documented trading name is Scancom Plc, under the parent organization M1 Group, based in Beirut, Lebanon.

We must desire to become owners of the economy, not just consumers of it.

Benny Lloker

A Call to Action

The findings underscore a critical need for the emergence of Ghanaian companies with true indigenous roots. It’s time to shift focus from subsistence and cuteness in business to a global dominance mentality. In a world where size and scalability are paramount, new businesses must aspire to reach a broader clientele, expand across borders, and make an impact on a global scale.

Real entrepreneurs, like you, hold the power to shape the future of Ghana’s business landscape. It’s a journey that won’t be without its challenges, but the destination is worth the effort. Join the movement to build businesses that thrive beyond Ghana’s borders, and let your entrepreneurial spirit soar.

In the pursuit of global economic significance, size does matter, and it’s time for Ghanaian businesses to think big and bold. Let the success stories of Elon Musk, Richard Branson, Naveen Jain, and Jeff Bezos serve as inspiration, guiding the way for Ghana’s aspiring entrepreneurs.

READ ALSO: The Raw Truth About Entrepreneurship

The Author’s Perspective

This thought-provoking exposé on the true origin of Ghana’s top companies comes from the keen insights of the author, Benny Lloker, an entrepreneur, business advocate, and thought leader. Lloker’s passion for stimulating growth and change in Ghana’s business arena is evident in his call for local businesses to embrace a global vision and create a future where Ghanaian companies stand proudly among the world’s most influential.

As an entrepreneur, you can play a pivotal role in this transformation. The time has come to break free from the status quo, think globally, and be part of the movement towards Ghana’s economic prominence on a global scale. #Flowwealth

Your ally in business, life, and sales,
Benny Lloker

Intrigued by this perspective? Join the conversation and be a catalyst for change.

This article was submitted by a business writer. If you have similar articles about business, personal development, life story or poem to share, kindly submit to articles@dtcofficialgh.com

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  1. October 28, 2023

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