Skip to main content

GCB and MD win Africa Investor Capital Market Award



Ghana Commercial Bank Limited. (GCB) and its Managing Director, Mr Simon Dornoo, have emerged winners of the 2013 Africa investor (Ai) Index Series Awards held at the New York Stock Exchange.

While GCB as a corporate entity was adjudged the ‘Best Performing (Ai 100) Company’, 2013 in Africa, the Managing Director, Mr. Simon Dornoo was also recognised as the ‘Ai100 Chief Executive Officer (CEO) of the Year’. 

The Bank emerged first among eight nominated financial institutions across the African continent in the Best Performing Ai100 Company category.

Mr. Dornoo was also adjudged the ‘Ai100 CEO of the Year’ from a shortlist of eight best Managing Directors/Heads of financial institutions on the continent in the Ai100 category.

GCB’s  award was based on performance, commitment to increasing volumes of shares traded, share performance compared with market performance between September 2012 to August 2013, volatility compared with market, portion of shares traded on market and major achievements in the year  2012 and 2013.
In a congratulatory message sent by the Africa investor Team to the Bank and the Managing Director, the organisation said GCB is being recognised for its exceptional achievements over the last year.

“Your achievements will no doubt continue to serve as an inspiration for business and government leaders working to raise Africa’s investment profile,” it said.

Commenting on the award Mr. Dornoo said, “as an organization that is striving to achieve excellence in banking as well as contribute to the socio-economic development of the country, this recognition will spur us on to greater effort towards these goals. We would like to dedicate this award to our customers for their continued loyalty and to our employees for their hard work.’

This is the second prestigious award conferred on the Bank within the last month. The Chartered Institute of Marketing Ghana (CIMG) on September 20, 2013 also adjudged GCB as the Best Bank 2012.

The awards coincide with the celebration of 60 years of banking excellence in Ghana by GCB this year.

The Africa investor (Ai) Index Series Awards, are the only international, pan-African awards that recognise and reward Africa’s institutional investors, stock exchanges, best-performing listed companies, stockbrokers and capital market regulators.
It is a specialist investment and communications firm advising governments, international organisations and businesses on communication strategies for capital market and foreign direct investments in Africa. Africa investor publishes Africa investor, the leading international newsstand magazine for Africa’s investment decision makers; maintains the Africa investor 40 Investors’ Index and hosts the Ai Index Series Summit and Awards.

Comments

Post a Comment

Popular posts from this blog

Akuapem-Apirede to promote tourism

By: Fred Yaw Sarpong sarpong007@gmaail.com
The Chiefs and people of Akuapem-Apirede in the Okere Constituency of the Akuapem North Municipality have put in place strategic plans to promote tourist sites in the town.
Apiredehene, Nana Saforo Okoampah III told the Daily Express that their vision is to develop Apirede in a modern way.
“We want to have a modern society and environment. We are doing this on the basis of promoting tourism here,” he added.
According to the Apiredehene, it’s their plan to promote the historic sites and the geographical location of the community.
Apirede is one of the 17 towns that forms the Akuapem State and historically, it used to house the armours of the Akuapem State. The community is part of the Nifa division of Akuapem.
He stated that one of those things was called ‘Odosu’ (the war god for Okuapemhene). “The Chief Executioner in those days for Akuapem also came from Apirede and items that he used were also kept here,” he stated.
“These are a lot of things …

Ghana to benefit from oil spill fund

By: Fred Yaw Sarpong

Ghana as crude oil importing country will benefit from the International Oil Pollution Corporation Fund if the country witnesses oil spill at its ocean.

“The fund is a global fund and it’s meant for the countries that import crude oil. The fund is voluntary but Ghana through the Tema Oil Refinery (TOR) contributes annually on behalf of Ghana,” Mr. Kojo Agbenor Efunam, the Deputy Director in charge of oil and gas at the Environmental Protection Agency (EPA) told the Daily Express.

He explained that the fund is mostly for crude oil importing countries but not those into production and exportation.

Mr. Efunam further explained that once Ghana is part of the fund, anytime there is an oil spill involving an oil tanker on the seas of Ghana, the country can apply for the fund to solve any problem resulting from the spillage.

“If the incident does not involve a tanker the country does not benefit. But if the incident involves a tanker the country applies for the fund,” he ment…

PFM Act to guide local government authority borrowing

By: Fred Yaw Sarpong
The bill, Public Financial Management (PFM) Act 921 which has been passed into law by Parliament is to guide public institutions especially the local government authority borrowing. The law was pass on 3rdAugust, 2016
According to the law, local government authority, a public corporation or state-owned enterprise is liable for the debt and other obligations without recourse to Government, unless otherwise explicitly guaranteed by Government in accordance with this Act.
Madam Eva Esselba Mends, the Chief Economic Officer and Group Head of PFM at the Ministry of Finance told the Daily Express that the law involves a lot but it also give instruction to how state institutions can borrow especially with the  local government authority.
She mentioned that there is no specific law in place that gives direction as to what local authority can do when it comes to borrowing by the authority. Other public corporations sometimes borrow with huge amount for their operation but loca…