Model for Establishing the 2009 Ghana Club 100
The eligible companies were ranked on the following parameters:
1. Size: This was measured using the company’s turnover for the year 2009. Turnover for the banks was measured by their gross interest income plus commissions and fees,
while turnover for insurance companies was measured by net premium earned plus investment income.
2. Profitability: A universally accepted measure of profitability is the Return on Equity (ROE). This indicates the return that management has created for the shareholders of the
company. This was measured by calculating the 3-year average ROE for the companies.
3. Growth: This gives recognition to companies that are growing at impressive rates. Such companies are usually growing because of excellence in product development, marketing and effective management. This was measured using the 3-year compounded annual growth rate of turnover over the period 2007-2009.