Oil and gas explorations giant, Tullow Ghana Ltd ranked number one at the fourteenth Ghana Club 100 awards held Thursday.
In second place is Ramel International Group, a giant leap from number 64 on the 2012 list. The multi-services firm provides travel and tours services, conference organization, airline ticketing among others.
Manufacturing firm, Multi-Pro Private Ltd ranks number three.
Chief Executive of Ramel, Amartey Nuno-Amarteifio attributed the leap of his company on the rankings to consistency and teamwork.
?We are going to continue to grow, we are going to continue to expand our franchise across Ghana, West Africa and the world,? said Nuno-Amerteifio.
The Ghana Club 100, spearheaded by the Ghana Investment Promotion Centre (GIPC), is an annual list of top 100 companies in Ghana. The first list was compiled in 1998 to recognise the best companies in the different sectors of Ghana?s economy. The awards also aims at encouraging competition and improve products and services.
This 2013/2014 event, held at the Banquet Hall of the State House, was on the theme ?Impact Investments and Sustainable Economic Development?.
Chief Executive of GIPC, Mawuena Trebarh, said the theme highlights the Centre?s resolve to attract FDI?s that go beyond just financial returns, but create benefits for the society and environment.
?This kind of FDI has a positive impact on developing economies and is more likely to take precedence if companies place greater emphasis on social welfare, resource protection and pollution control from the outset of the rolling out of their various projects,? she said.
To be eligible for the Ghana Club 100 rankings, companies must be limited liability firms. Where companies have government interest, shared ownership should be less than 50% unless they are listed on local bourse.
Also, companies must have cumulative net profit for the last three consecutive years to be eligible for entry.
Ernst and Young, compilers of the 2013/2014 list base rankings on three main criteria ? size, profitability and growth of the companies.
Company size is given a weight of 40% while profitability and growth are weighted 30% each.
The overall score for each company was then determined by totaling the company?s weighted average for all three criteria.