The Ghana Club 100 awards is an excellent performance assessment tool for promoting excellence in corporate Ghana. The award has gained international recognition and continues to promote and create awareness on excelling Ghanaian businesses and sectors.
Companies making it into the GC 100 are expected to serve as role models for the private sector and provide a forum for corporate Ghana to interact with government at a high level.
Initiated by the GIPC in 1998 as a strategic program aimed at giving due recognition to successful enterprise building, compiles and rewards the Top 100 corporate institutions mostly from the private sector for the annual award. The awards serve as a benchmark to corporate excellence that awards good corporate governance for attracting and encouraging private sector investment
An event that metamorphosed and grew into a full-fledged corporate brand is constantly being update for value to compete with similar international brands like the Fortune500 of the UK.
Each year, the GIPC awards the top 100 businesses and awards the leading companies in each of the strategic sectors; i.e. Best company in Agriculture and Agribusiness, Financial Services, Information and Communication Technology, Services, Infrastructure, Petroleum and Mining Services, Manufacturing, Tourism, Health and Education.
Special Awards are also given to outstanding business performers in selected categories including Corporate Social Responsibility and the highest tax paying company.
The event serves as a platform for international investors, experts, managers of financial institutions, Ghanaian decision makers, development partners and donors, as well as other key actors and business partners to interact.
Objectives of the awards:
The Key objectives for setting up the awards are:
- To develop a database of the top 100 viable companies, as an annual “who is who” on the Ghana corporate business calendar and through creative media vehicles and activities, promote Ghana’s corporate capacity,
- To utilize the club to gain government support and intervention to enhance the international competitiveness of the Ghanaian corporate sector,
- To team up with club members to enhance Ghana’s private sector development through strategic push and pull linkages,
- Develop an open information culture within the corporate sector,
- Provide incentives for improved corporate performance and
- Develop uniform criteria for evaluating corporate performance.
To fulfil some of the objectives above, the GIPC also initiated a quarterly GC100 CEOs’ Breakfast Meeting to team up with the private sector in discussing and finding solutions to factors that hinder the development of successful enterprise building in the country.
On 24th May of this year, the GIPC will organize the maiden GC100 CEOs Dinner with His Excellency the President dubbed “Presidential encounter with GC100 CEOs 2019,” at the Flag Staff House in Accra. This is to ensure that corporate Ghana interacts with government at the highest level.
When the GIPC publishes the “call for entries” each year, companies voluntarily submit applications based on the following eligibility criteria:
- 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.
- All entrants must have made profits for the most recent three consecutive year period. For example; the 2017/18 rankings, will require applicants to show evidence of profitability in 2016, 2017 and 2018 transactions.
The growing number of applicants each year is an indication of the growing popularity of the awards among captains of industry in Ghana.
After rigorously evaluating applications by an independent consultant, successful applicants are ranked according to the following criteria:
- Size (turnover)
- Growth and
To enhance the credibility of the awards, the GIPC ensures that:
- Stakeholder inputs are incorporated into the ranking criteria
- The is a public bidding process for the independent ranking consultant for that year
- Results of the ranking positions are declared only at the awards venue and date
It has also been observed that companies who rank high on the GC 100 platform also ranked equally high in other national and international awards.
The GC100 brand is growing in identity, value and credibility and is expected to be a thriving force that encourages good corporate governance practice among private sector businesses and a means to attracting more investments into the Ghanaian economy. For, a vibrant private sector signals a thriving economy.