A. METHODIST BOOK DEPOT LIMTED

Rev. John Millum of the Wesleyan Missionary society established Methodist Book Depot in 1881. It started as a small Book Room in the right wing of the ground floor of Standfast Hall in Cape Coast . In 1882 the Book Room was given a Synod Grant of £89. IIs. 3d and charged to pursue the following objectives:

1. The Production and distribution of Christian Literature in both English and Fante; and the translation into Fante of suitable existing literature.

2. The importation and distribution of church requisites.

• The expansion of the Business to provide an additional source of income for missionary work within the church.

The operation of the Depot grew and expanded into many towns in Ghana . It was formally incorporated as a limited liability Company on 8 th January 1960 with registration Number 1104 and issue with Certificate to Commence Business. Currently, the Head office of the Company is located in Makola, Accra adjacent to the Ghana school of Law .

The Company, at present, has eight (8) bookshops/branches spread through the country. They are located in Accra (Makola), Kumasi , Cape Coast , Takoradi; Tema, Swedru, Berekum and Tamale.

The Methodist Church, Ghana is the main shareholder of the Company. The Company’s main business is focused on retail shop services where it receives books and stationery from suppliers and distributes them through her branches. The Depot’s main product lines include both foreign and locally published books, stationery and church requisites.

The Depot is now seriously engaged in publishing academic books for Basic level Ghanaian Schools and continues also to publish writings of Ghanaian Methodist Ministers when resources are available.

Mrs. Naomi Okine is the Chairperson of the Board of the Company and the current Managing Director is Very Rev. Emmanuel K. Aryee.

PERFORMANCE

Despite the Company’s low share capital, turnover of sales grew from ¢3.7bn in 2002 to ¢4.3bn in 2003, and ¢5.8bn in 2004.

Donewell, established by the Methodist Church, Ghana in 1993, is among the few out of several insurance and reinsurance companies whose licenses have been renewed to continue operation in Ghana .

Donewell remains Methodist in that despite having institutional investors and professional trade associations as shareholders, the Methodist Church, Ghana and its members remain the majority shareholders.

Donewell insurance Company has branches in six (6) Regional Capitals with satellite office in eight districts.

The Board of the Company is under the chairmanship of Mr. J.S. Addo, a former Governor of the Bank of Ghana, and a member of Ghana ’s Council of State. The Managing Director is Mr. Larbi.

Despite the stiff competition in the Ghanaian Insurance market, Donewell’s Premium Income grew more than 75% to ¢27.6bn in 2003 from ¢16.7bn in 2002. General business grew to ¢19bn in 2003 from ¢11.0bn in 2002, and Life grew almost 60% to ¢8.18bn in 2003 from ¢5.16bn in 2002.

By this performance in 2003, Donewell’s Market share grew to 4.6% from 3.5% in 2002.

In 2003 the efforts of Donewell gained national recognition as the Company gained admission into Ghana Club 100 coming in as 47 th in ranking. This means that in the ranking of the top 100 companies in Ghana , by the criteria set by the Ghana Investment Promotion Centre ie profitability, growth, size, Donewell placed among the top fifty (50).