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Top 10 Richest Companies in Ghana

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Glusea – Richest Companies in Ghana

Ghana is ranked the 9th largest economy in Africa. Gold, Cocoa, Petroleum are some of the biggest revenue generators for the Economy. Most of the richest companies in Ghana are most those engaged in the above-mentioned activities. Telecom giants, MTN maintains the lead as the wealthiest company in Ghana. Take a look at the top 10 below

Top 10 Richest Companies in Ghana

Scancom PLC (MTN)

how to check your MTN number

MTN Ghana is the richest company in Ghana. As of 2020, MTN has over 20.9 million subscribers. With increasing technology, the telecom giants continue to dominate the telecommunication space in the country with over 53 % of the market share.

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Total Petroleum Ghana

richest companies in Ghana Total Ghana

Total Petroleum Ghana Limited has a large network coverage over 251 service stations in Ghana. Their range of services cuts across the Aviation, Bitumen, and Mining industries, besides the Manufacturing and Roads Sectors.

Ghana Oil Company

Ghana Oil Company, known as GOIL, is a state-owned Ghanaian oil and gas marketing company, formed on 14 June 1960. Currently, it holds the place of Ghana’s top oil marketing company, and is the only indigenous-owned petroleum marketing company in Ghana. Goil has 300+Service Stations

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Produce Buying Company

Produce Buying Company is one of the biggest dealers in cocoa, shea nut, and other cash crops in the West Africa sub-region.

Produce Buying Company purchases high quality cocoa beans/sheanuts from farmers and prepares, stores them in purpose-built sheds at village/society level and ensures prompt delivery of the graded and sealed stocks to designated Take Over Centers collection points in the most efficient and profitable manner for inspection, grading and sealing by the Ghana Cocoa Board‘s Quality Control Department.

NEWMONT GOLDEN RIDGE LIMITED

Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead.

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The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa.

Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices.

Newmont has over 425 total employees across all of its locations and generates $55.15 million in sales (USD). There are 104 companies in the NEWMONT GOLDEN RIDGE LIMITED corporate family.

Richest Companies in Ghana

Tullow Ghana

Tullow Ghana

The majority of Tullow’s production comes from the Jubilee and TEN fields in Ghana.

Tullow Oil plc is a multinational oil and gas exploration company founded in Tullow, Ireland with its headquarters in London, United Kingdom

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Its largest activities are in Africa and the Atlantic Margins, where it has discovered new oil provinces in Ghana, Uganda, Kenya, and French Guiana.

During the end of the 2019 financial year, their total revenue of $1682.6 million dollars and a net income of $1694.1 million dollars.

GCB

GCb richest companies in Ghana

GCB Bank Limited formally known as Ghana Commercial Bank is the largest bank in Ghana in terms of total operating assets and share of industry deposits, with 14.2% of total industry deposits.

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In August 2017, the Bank of Ghana, the nation’s central bank, announced that it had approved a Purchase and Assumption transaction with GCB Bank Limited for the transfer of all deposits and selected assets of UT Bank and Capital Bank (Ghana) to GCB Bank Ltd. The bank has assets of Total Assets: 12, 416, 741.

Richest Companies in Ghana

Ghana National Petroleum Corporation

GNPC

The Ghana National Petroleum Corporation (GNPC) is the state agency responsible for the exploration, licensing, and distribution of petroleum-related activities in Ghana

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Read Top 10 Richest Men in Africa

The corporation has amongst it functions to promote petroleum exploration activities, to appraise existing petroleum discoveries, to ensure that Ghana benefits the most from the development of the country’s petroleum resources.

The corporation promotes the training of Ghanaians in petroleum-related activities and ensure environmental protection in all petroleum-related activities.

zoomlion Ghana

Zoomlion richest companies in Ghana

The company was formed under the company’s Act in January 2006. The company which was formed in 2006 as Zoomlion Ghana Limited with a few numbers of staff has now grown over the past years. It now has a total core staff of 3,000 and manages over 85,000 workers under various forms of Public-Private Partnerships (PPP).

Richest Companies in Ghana

Guinness Ghana Breweries

richest companies in Ghana

Guinness Ghana Breweries PLC is the leading total beverage business in Ghana. Guinness Ghana Breweries is the only beverage company in Ghana listed on the Ghana Stock Exchange.

Guinness brands include Guinness, Star Beer, Malta Guinness, Orijin and Smirnoff.

Read Top 50 Young CEOs in Ghana

https://youtu.be/0raBNdJcMQY
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Priven Reddy Crypto King

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Read about Priven Reddy Crypto here

Priven Reddy is obviously the king of cryptocurrency and a hugh inspiration to many young people. With hard working and determination, Priven Reddy is living his South African dream.

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Aside being the king of cryptocurrency, Priven Reddy  has also attained remarkable feet in the mobile application software niche. 

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Why is Priven Reddy Crypto king?

It all started when he founded the world’s first A.I enabled investment cryptocurrency known as Krypteum.

Krypteum was started when Priven realised that if he build a product that uses AI (artificial intelligence), the user doesn’t have to sit online 24 hours a day, 

The coin uses A.I, deep learning and other machine learning models to go on it’s own to invest in multiple other currencies The coin  trades a portfolio of over 80 tokenized blockchain assets based on its own analysis without the need for human interaction, input or approval.. When the coins are performing well, it will invest and make money.

When the price is volatile or there is a dip in the markets, it will disinvest.Analysts have said like having 100000 actuaries working for you per day and it’s what cryptocurrencies should have been from the start.

Depending on the kind of plan that a client signs with the platform, one can generate returns of up to 35%, with the platform taking a further 15% to 25% of returns on top of this. The platform also charges a one percent withdrawal fee.

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Read Julius Malema net worth

The A.I technology is getting “smarter and smarter every day”. “When it misses something, it learns from it, almost like a life form” of its own. It analyses conventional indicators such as Fundamental, Historical and Technical analysis but extends to social media activity, activity of other traders, geo-political events and actual news sources such as CNN and Bloomberg.

The fund is structured to minimize risk; all funds are kept in ZAR, USD, EUR or GBP when not involved in a trade, a prudent reserve is kept at all times, company assets will be externally audited and published to the blockchain in the near future. 

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The Key Strategy to Buying Stocks in 2021

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For investors looking to grow their portfolios these days, here is a hard truth: You have limited options.

In this extended era of low rates, average interest on savings accounts is close to zero. Fixed income is not much better, with 10-year Treasurys offering well below 1%.

That’s not even enough to keep up with annual inflation, let alone grow your savings for a comfortable retirement. That leaves one primary weapon in your arsenal: Equities, or shares in publicly-traded companies.

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The stock market

There is more risk involved with buying stocks than with bonds or other investments, but there is also more potential return. Looking through a long-term lens of many decades, stocks are a smart place to be – returning an average of 9.2% a year over the last 140 years, according to data from Goldman Sachs.

Compound that return over many decades of your working life, and you can see why stocks are a core component of most portfolios. They not only offer potential share-price appreciation, but income generation as well, if they provide a dividend (a regular payment to shareholders).

Using a simple growth calculator at Investor.gov, if a young saver chips in $500 monthly and enjoys 7% compounded stock returns over 40 years, that adds up to an impressive $1.2 million.

“With stocks there is a greater potential for reward, which is why they are a core part of most investors’ portfolios,” says Michael Kealy, an education coach with brokerage TD Ameritrade in Salt Lake City. “Historically they have provided returns north of other asset classes. There is more risk on the table – but there are ways to offset that risk.”

How to buy stocks:

Stocks for beginners:

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Here are three steps to start buying stocks:

1. Decide between a mutual fund and individual stocks

2. Decide which stocks to own

3. Selling stocks: Consider taxes and risks

1. Funds vs Stocks

So where does a new investor begin in buying individual stocks? If your primary savings vehicle is a company 401(k), you will typically be presented with a menu of mutual funds, which are baskets of large numbers of stocks. (The exception to that rule is stock in your own company, which may indeed be offered within that plan.)

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For most investors, mutual funds are the wiser path, since they offer more diversification and less risk. But if you are interested in buying shares in individual stocks, you can certainly do that elsewhere — in traditional or Roth IRAs, for instance, which are retirement accounts that let you select from a wider universe of investment options.

Stock brokers

Or you can trade stocks in a regular taxable brokerage account, at popular online brokers like TD Ameritrade, Merrill Edge, E*Trade or Schwab. Many investors these days are even gravitating towards apps like Robinhood, which appeal to the mobile and tech-savvy mindset of younger savers.

Every brokerage offers its own educational tools, which new investors should take full advantage of.

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“Whatever platform you are using, there will be a comprehensive set of research to help you make the most informed decision possible,” says Aron Levine, Bank of America’s President of Preferred and Consumer Banking and Investments. “You have to educate yourself, because you don’t want to pick stocks based on the latest rumor in the news or what you heard in the hallways.”

How to buy stocks online

Before selecting a brokerage, do your due diligence and look into fee structures, like how much they charge you to make a trade. It could be zero — in other words commission-free — at some online brokers, or it could be a modest amount like $15 or $20.

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Just keep in mind that if there are fees associated with trading, frequent buying and selling will eat into your overall returns. Even if those costs seem small at first, they can add up in a big way: In fact one well-known study found that frequent traders underperformed the broader market by 6.5%, largely because of trading costs.

Part of that market lagging is that individual investors are just not skilled at successfully timing the market. We react emotionally instead of rationally, buying when stock prices are too high and selling when they are too low. So for most investors, a Warren Buffett-like buy-and-hold strategy is usually the better way to go: Purchase shares in a company you believe in, at a reasonable price, and then leave it alone and watch it grow.

2. How to pick the right stocks

How do you go about deciding which shares to buy? That’s the million-dollar question, and an inherently personal one, to which no one can give you the answer. But two typical schools of investing thought are “growth” versus “value.”

Growth stocks tend to look more expensive when compared to their current earnings, but their future potential as an expanding business justifies the higher price. Think of prominent technology companies, which have typically looked very pricey in recent decades, but have grown by leaps and bounds – and rewarded investors handsomely.

“How much growth is anticipated, should be one of your very first considerations,” says TD Ameritrade’s Kealy. “You want to see future expected earnings that are well above the past, and to find that out you can research earnings estimates from company analysts.

“When looking for attractive investments, one conventional valuation metric is price relative to earnings (P/E ratio): How much share price am I spending, compared to future earnings?”

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That’s where the alternate approach of “value” investing can come in. For any number of reasons – like a broader economic slowdown, or disappointing quarterly results, for instance — a stock may be beaten down at the moment, but as a result it is on sale. Snap up that discount, wait for a rebound, and you should be well-positioned for solid returns going forward.

Another key metric to consider is dividend payout. In that way stocks can be an ongoing source of income, especially for those nearing retirement who would like an additional stream of cash in addition to pensions or Social Security. The average yield of S&P 500 stocks is around 1.5%, but if you pick and choose wisely, many companies are offering 3% or more – which far exceeds what most fixed-income products are offering at the moment.

3. Sell stocks

If you do pick a stock winner, congratulations – but just remember that in taxable accounts, Uncle Sam will want his taste. Short-term gains are taxed at ordinary income rates, while longer-term holdings fall under the capital gains rates of 0%, 15% or 20%, depending on income level. There are no capital gains taxes for buying and selling within traditional IRAs, although eventual distributions are taxed as regular income. Roth IRA investment gains are entirely tax-free, since the initial contributions were after-tax.

Another caveat about investing in individual stocks: Even if you are talking about big, well-known companies, there is a fair amount of risk involved here. As we saw during the financial crisis of 2008-9, unexpected events can take down respected and long-standing firms – and if they crash out, your investment can go to zero.

“Especially in the last six months, there has been a big rush into equities, with young investors getting excited by single stocks,” cautions Bank of America’s Levine. “That creates a great deal of risk, because those investments can go rapidly up or down, with nothing to balance them out.”

One strategy to reduce risk can be to limit such speculative stock picking to a relatively small percentage of your portfolio, while devoting the rest to broader mutual funds and other asset classes like fixed income. That overall balance should steady the ship during market storms, and prevent dramatic swings and rash decisions.

You can also try your hand at stock picking by using a practice account, or what is called “paper trading”. TD Ameritrade, for instance, has a platform called Thinkorswim where new traders can get familiar with how the process works, without putting any actual money on the line.

“It’s basically Monopoly money, and you can see what plays out without it being a live account,” says Kealy. “It’s a good way to practice and build confidence, because education is so important for investors who are dipping their toes in for the first time.”

Source: Money

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Richest Woman in Namibia

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Who is the Richest Woman in Namibia

Monica Geingos is the richest woman in Namibia

Monica Geingos is a Namibian entrepreneur, lawyer, and First Lady of Namibia since 2015. She has been a board member and director within many of the country’s large companies. She had also chaired the Presidential Economic Advisory Council.

Read Frans Indongo net worth

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Geingos married the then-President-elect of Namibia, Hage Geingob, on February 14, 2015, shortly before he was sworn into office. She has served as First Lady since March 2015.

career

 she was voted one of the 12 most influential people of Namibia, and in 2020 she was in the list of 100 most influential African women. Geingos is a graduate of the University of Namibia, and spent the early part of her career working for the Namibia Stock Exchange (NSX) in Windhoek. Geingos served as Chairman of the Board of eBank Namibia and is the managing director of the financial undertaking Stimulus, and General Director of Point Break.

Richest Woman in Namibia

Monica Geingos is arguably the richest woman in Namibia. She founded the Economy Foundation in 2016.

Read Michael Amushelelo net worth

Promising to give away all her wealth – estimated at $3 million – to charity when she dies, Monica Geingos is on a mission to change the image of African first ladies and tackle sexism and inequality in Namibia, the world’s second most unequal country.

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Geingos married Hage Geingob on Valentine’s Day in 2015 – a month before he was sworn in as president of the southern African desert nation, which gained independence from apartheid South Africa in 1990 but remains starkly unequal.

The couple then voluntarily declared their combined assets of some 110 million Namibian dollars ($7.44 million), a popular move in a continent where politicians and their wives, like Zimbabwe’s Grace Mugabe, grab headlines over unexplained riches.

About 6% of Namibia’s 2.5 million people are white. They dominate businesses and land ownership, a legacy of German and South African colonial rule, along with a growing black elite.

Read Richest Man in Namibia

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