The total revenue of TDC Development Company Limited increased from GH¢116.59 million in 2021 to GH¢136.6 million in 2022, representing a 17% increase.
Profits before tax also grew by 19.6%, from GH¢41.68 million last year to GH¢49.85 million this year.
The Board Chairman of TDC, Mr Kofi Brako, who disclosed this at the company’s general annual meeting in Accra last Thursday, noted that the company has so far completed 71 blocks of flats comprising studios, one-bedroom and two-bedroom apartments under the government’s Affordable Housing Project in Community 26.
This achievement, according to him, highlights the company’s ongoing efforts at providing affordable homes to Ghanaians.
“I am happy to announce to you, our esteemed shareholder, that your Company, TDC Development Company Limited continues to maintain its leadership among State-Owned Enterprises in Ghana,” he said.
The Chairman added that TDC’s audit committee was recognised as the best in its category by the Internal Audit Agency for exhibiting good corporate governance.
“For the 2022/2023 auditing year, the Audit Committee of TDC was adjudged the overall best Audit Committee (State-Owned Enterprises category) conferred by the Internal Audit Agency.
“This was as a result of your Board of Directors’ continuous pursuit of good corporate governance practices in compliance with the provisions of the Public Financial Management Act, 2016 (Act 921),” Mr Brako added.
The Deputy Minister for Works and Housing, Mr Abdulai Abanga, commended TDC for delivering on its mandate of planning, developing, and managing the Tema Acquisition Area in the last 71 years.
Acknowledging TDC Development Company Limited as a prominent player in the housing and sustainable community development field, the Deputy Minister said the Company has consistently played a crucial role in contributing to the development and growth of the housing sector in the country.
That, he added, positions TDC with significant potential to expand operations beyond its boundaries to have a nationwide impact.
“In light of this, I encourage you to reevaluate your business practices and embrace contemporary methods for engaging a broader audience within Ghana,” he stated.
Richard Aniagyei, ISD