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The Vice-President, Mr John Dramani Mahama, has emphasised that the government intends to reduce inflation to 14 per cent by the end of the year through the adoption of pragmatic policies and measures. Speaking at the Ghana Club 100 awards ceremony organised last Friday night at the Banquet Hall of the State House in Accra, the Vice-President expressed optimism about a further reduction of inflation to a single digit by the end of next year.

That, he said, would improve living conditions for the majority of the people in fulfilment of the government’s aspiration. He said with the stabilisation of the cedi, the government was on top of issues and would implement appropriate programmes to improve the business environment in the country. The ceremony, on the theme, “Celebrating Ghana’s Businesses”, saw Stanbic Bank under its Managing Director, Mr Alhassan Andani being crowned the topmost business entity of the Ghana Club 100 rankings.

Scancom Ghana Limited, operators of MTN, which has dominated the first position for years now, slipped to the second position, followed by Toyota Ghana Limited and Kasapreko in that order. The rankings, which are calculated based on profitability, size and growth, saw UT Financial Services placing fifth, Ghana Rubber Estates sixth, CFAO seventh, followed by the Trust Bank, Intercon Programmes (IPMC) and the Ghana Oil Company.

Many rural and commercial banks also made the grade, with the South Akim Rural Bank being adjudged the fastest growing rural bank. The Upper Manya Kro Rural Bank improved its position to 23rd on the rankings, while Standard Chartered Bank was named the Best Company in Corporate Social Responsibility. The Ghana Club 100 is a programme designed by the Ghana Investment Promotion Council (GIPC) to honour captains of industry for their efforts at promoting trade and economic development.

New entrants Comet Properties, a real estate company, came 47th on the rankings and was given the Infrastructure Development Award, with Kasapreko being named the Manufacturing Company of the Year. TV 3 won the Media Company of the Year award, with Ghana Oil winning the Petroleum and Mining Company of the Year award. Holy Trinity Medical Services was named the Health Services award winner, with Toyota claiming the General Services award.

Vice-President Mahama, who was the special guest of honour, said the government was committed to partnering the private sector to enhance the growth of the economy. He said through the GIPC the Ghana Club 100 programme was promoting Ghana as a promising investment destination and urged the various companies to improve their capacities to respond adequately to the competitiveness of the international business climate.

The Minister for Trade and Industry, Ms Hannah Tetteh, said the ministry was confident about developing the private sector by promoting the addition of value to its products for them to become competitive. The Managing Consultant of Yamson and Associates, Mr Ishmael Yamson, said doing business in the country was not an easy task and urged the government to create an enabling environment for businesses to thrive.

The acting Chief Executive of the GIPC, Mr George Aboagye, said the notion of the best 100 companies was to foster competition and encourage other companies to strive for excellence and achievement.
Source: Daily Graphic

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