7 companies owned by Ghana’s richest investor Daniel Ofori

Feyisayo Ajayi -

Daniel Ofori, a prominent Ghanaian business magnate and philanthropist who has made a name for himself in the African business scene, ranks as the richest investor on the Ghana Stock Exchange.

As the visionary force steering White Chapel Holdings, a behemoth in the realm of apparel retail spanning the length and breadth of Ghana, Ofori’s entrepreneurial spirit transcends conventional boundaries. He is also the founder of Advance Ventures Limited, a top player in structural design and real estate, offering premium residential and commercial spaces in Ghana’s prime locales.

Boasting over two decades of mastery in Capital Markets, Ofori owns the most valuable individual portfolio on the Ghana Stock Exchange. His broad investment portfolio includes stakes in esteemed organizations such as GCB Bank, Société Générale Ghana, SIC Insurance Company, and others.

At the helm of White Chapel Holdings, Ofori serves as both chairman and CEO, strengthening his influence through strategic roles on various corporate boards. His financial prowess is underscored by a 7.49-percent stake in GCB Bank, a 3.9-percent equity interest in Calbank, a 5.91-percent ownership in SIC Insurance valued at $233,095, and a commanding 6.78-percent stake in Societe Generale.

Beyond his business pursuits, Ofori extends his philanthropic efforts through private foundations and provides financial support to Christian denominations in Ghana — including the Methodist, Pentecostal, Catholic, Presbyterian, and Baptist churches.

Billionaires.Africa has documented companies and holdings owned by Ofori:

  1. Advance Ventures Limited
    Advance Ventures Limited set up by Ofori located in Kumasi, Ghana is a dynamic Structural Design and Real Estate Company in Ghana, offering residential and commercial properties in prime locations. Its portfolio includes retail and industrial spaces tailored for leading organizations across diverse sectors and market segments in the country.
  2. GCB Bank
    Ofori owns a 7.49-percent stake in GCB Bank, positioning him as the bank’s third-largest shareholder—trailing only the Social Security and National Insurance Trust and the Ghanaian government. As the ninth most valuable company on the Ghana Stock Exchange, GCB Bank ranks among Ghana’s largest banks, commanding over 11 percent of the nation’s banking industry deposits.
  3. SIC Insurance
    SIC Insurance Co. Ltd., the nation’s largest general insurer and one of the oldest non-life insurance companies in Ghana, is another feather in Ofori’s cap. Ofori’s 5.91 percent stake in SIC Insurance is a testament to his broad investment in the capital market. SIC provides a comprehensive suite of insurance spanning motor, accident, travel, marine, aviation, oil, and gas.
  1. Calbank
    Founded in 1990, CalBank is a leading financial services provider catering to the banking needs of large corporations, high-net-worth individuals, non-governmental organizations, regular customers, and small and medium enterprises. Daniel Ofori holds a 3.9-percent equity interest in CalBank.
  1. Societe Generale Ghana PLC
    Headquartered in Accra, Ghana, Société Générale Ghana Limited is a part of the Société Générale banking group. The bank’s stock is listed on the Ghana Stock Exchange forming a prior component of the Ghana Stock Exchange All-Share Index. Ofori owns a substantial 6.78-percent in the leading lender.
  2. Enterprise Group Limited
    Enterprise Group, a dynamic conglomerate operating in Ghana, Nigeria, and the Gambia, is a top player in insurance, properties, and pensions, positioning itself as a pioneering force in the Ghanaian insurance landscape. Ofori, a key figure in the industry, plays a pivotal role in its strategic partnership, alongside his association with Black Star Holdings Limited. As a leading financial services provider in Ghana, Enterprise Group encompasses six subsidiaries
  3. White Chapel Limited
    Renowned as the visionary founder of White Chapel Limited, Ofori established an innovative apparel retail giant with a global reach across Ghana. White Chapel Ltd. operates as a supplier, manufacturer, and trader of personalized casual wear, accessories, and related apparel products. Its export and trade ventures extend globally to Asia, Australia, Canada, the UK, and the Middle East.