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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G


                    UNDER THE SECURITIES EXCHANGE ACT OF 1934


                                (AMENDMENT NO. 5)*


                           ASHANTI GOLDFIELDS LIMITED
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                                (Name of Issuer)


                                       GDR
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                         (Title of Class of Securities)


                                    043743202
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                                 (CUSIP Number)


                               December 31, 2002
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             (Date of Event Which Requires Filing of This Statement)



Check the following  box if a fee is being paid with this  statement [ ]. (A fee
is not required only if the filing  person:(1)has  a previous  statement on file
reporting  beneficial  ownership  of more  than  five  percent  of the  class of
securities  described in Item 1; and(2)has filed no amendment subsequent thereto
reporting  beneficial  ownership of five percent or less of such class)(See Rule
13d-7)

* The remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).

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CUSIP NO.    043743202             SCHEDULE 13G            PAGE  2  OF  5  PAGES
                                                                ---    ---
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1.                NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
                  NO. OF ABOVE PERSON

                  GENESIS ASSET MANAGERS LIMITED
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2.                CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (A) [ ]
                                                                      (B) [ ]
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3.                SEC USE ONLY


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4.                CITIZENSHIP OR PLACE OF ORGANIZATION

               A LIMITED LIABILITY COMPANY ORGANIZED UNDER THE LAWS OF GUERNSEY,
               CHANNEL ISLANDS
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                               5.     SOLE VOTING POWER

                                      8,076,697 (See Item 6)
   NUMBER OF                  --------------------------------------------------
    SHARES                     6.     SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                           8,076,697 (See Item 6)
    EACH                      --------------------------------------------------
  REPORTING                    7.     SOLE DISPOSITIVE POWER
   PERSON
    WITH:                             8,076,697 (See Item 6)
                              --------------------------------------------------
                               8.     SHARED DISPOSITIVE POWER

                                      8,076,697 (See Item 6)
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9.                AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                  8,076,697
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10.               CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
                  CERTAIN SHARES*                                          [ ]
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11.               PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                  7.15%
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12.               TYPE OF REPORTING PERSON*

                  Investment Adviser
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CUSIP NO.    043743202            SCHEDULE 13G            PAGE  3  OF  5  PAGES
             ---------                                         ---    ---

ITEM 1.

      (a) Name of Issuer:  Ashanti Goldfields Limited
                           --------------------------

      (b) Address of Issuer's Principal Executive Offices:

          Gold House
          Patrice Lumumba Road
          Roman Ridge
          Accra Ghana

ITEM 2.

      (a) Name of Persons Filing:
      (b) Address of  Principal  Business  Office or, if none,  Residence:
      (c) Citizenship:
                    (a) Genesis Asset Managers Limited("GAML")
                    (b) Barclays Court
                        Les Echelons
                        St. Peter Port
                        Guernsey GY1 6BA
                        Guernsey Chanel Islands
                    (c) Guernsey Chanel Islands


(d) Title of Class of Securities: GDR
                                  ---
(e) CUSIP Number:   043743202
                    ---------

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B), CHECK
        WHETHER THE PERSON FILING IS A:

  (a)  [_]  Broker or dealer registered under Section 15 of the Exchange Act.
  (b)  [_]  Bank as defined in Section 3(a)(6) of the Exchange Act.
  (c)  [_]  Insurance  company as defined in Section 3(a)(19) of the Exchange
            Act.
  (d)  [_]  Investment  company  registered under Section 8 of the Investment
            Company Act.
  (e)  [X]  Investment  Adviser  registered  under Section 203 of the Investment
            Advisers Act of 1940
  (f)  [_]  An employee  benefit plan or endowment  fund in  accordance  with
            Rule 13d-1(b)(1)(ii)(F);
  (g)  [_]  A parent  holding  company or control  person in accordance  with
            Rule 13d-1(b)(1)(ii)(G);
  (h)  [_]  A savings  association  as defined in Section 3(b) of the Federal
            Deposit Insurance Act;
  (i)  [_]  A  church  plan  that  is  excluded  from  the  definition  of an
            investment  company  under  Section  3(c)(14)  of the  Investment
            Company Act;
  (j)  [_]  Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

If this statement is filed pursuant to Rule 240.13d-1(c), check this box [ ].



CUSIP NO.    043743202            SCHEDULE 13G            PAGE  4  OF  5  PAGES
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ITEM 4.   OWNERSHIP

As of December 31, 2001

      (a) Amount Beneficially Owned:  8,076,697
                                    --------------------------------------------
      (b) Percent of Class:  7.15%
                           -----------------------------------------------------

      (c) Number of shares as to which such person has:

         (i)sole power to vote or to direct the vote:    8,076,697
                                                       -------------------------
         (ii)shared power to vote or to direct the vote:    0
                                                          ----------------------
         (iii)sole power to dispose or to direct the disposition of:  8,076,697
                                                                      ----------
         (iv)shared power to dispose or to direct the disposition of: 0
                                                                      ----------


ITEM 5.   OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

      If this  statement  is being  filed to report the fact that as of the date
hereof the reporting  person has ceased to be the beneficial  owner of more than
five percent of the class of securities, check the following [ ].


ITEM 6.  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

GAML, a registered  investment  adviser,  provides  investment advisory services
either on a discretionary basis to institutional  investors and in-house- pooled
funds  for  institutional  investors  or a  non-discretionary  basis to  outside
managers of institutional investors. GAML has investment, voting and dispositive
power  with  respect  to  the  above  specified  shares  on  behalf  of  various
institutional investors.  Such investors receive the dividends and proceeds from
the  sale of such  securities.  None of such  investors  owns an  interest  that
relates to more than five percent of such class of securities.


ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
         SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

     Not Applicable


ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

     Not Applicable


ITEM 9.  NOTICE OF DISSOLUTION OF GROUP

     Not Applicable





CUSIP NO.    043743202            SCHEDULE 13G            PAGE  5  OF  5  PAGES
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ITEM 10.  CERTIFICATION

      By signing  below, I certify that, to the best of my knowledge and belief,
the  securities  referred  to above were not  acquired  and are not held for the
purpose of or with the effect of  changing  or  influencing  the  control of the
issuer of the  securities  and were not acquired and are not held in  connection
with or as a participant in any transaction having that purpose or effect.

                                    SIGNATURE

After  reasonable  inquiry and to the best of my knowledge and belief,  I hereby
certify that the information  set forth in this statement is true,  complete and
correct.


Dated February 14, 2003


Genesis Asset Managers International Limited


By:/s/ Jeremy D. Paulson-Ellis
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Name: Jeremy D. Paulson-Ellis
Title: Director