Ghana
Best bank Social Security Bank
With 38 branches and an aggressive marketing strategy, Social Security Bank is the most serious local competitor to Standard Chartered and Barclays. Privatized in 1995, its profits grew 55% between 1995 and 1996, to C41.5 billion ($20 million). It was the most profitable Ghanaian bank last year in terms of return on assets. A consistent innovator, SSB has upgraded banking for corporate clients and has recently introduced smart cards for retail customers. By controlling costs it can offer the cheapest loans (with interest rates as low as 30% compared with the bank rate of 45%) and the highest interest on deposits. It is a net lender to the banking community.
Best broker Databank
Databank produces by far the most consistent and comprehensive research on Ghana's macroeconomy, budget and listed companies. It maintains the most comprehensive database of the Ghana Stock Exchange and compiles the leading indices. It is known for the speed and efficiency of its execution it accounts for 65% to 70% of secondary market trading of equities on the GSE. An experienced portfolio manager for institutions and individuals, Databank is now in the process of launching a $30 million West Africa Fund the first indigenously sponsored equities fund for the region.