The Tema Development Corporation (TDC) increased its total revenue from GH¢116.59 million in 2021 to GH¢136.6 million in 2022.
Hon. Kofi Brako, Board Chairman of the Corporation, who disclosed this at its third Annual General Meeting (AGM) in Tema on Thursday said, Profit before tax also increased from Forty-One Million, Six Hundred and Eighty Thousand Ghana Cedis (GHS41.68 million) in 2021 to Forty-Nine Million, Eight Hundred and Fifty Thousand Ghana Cedis (GHS 49.85 Million) in 2022 representing an increase of 19.60 percent.
According to Hon. Brako, TDC has chalked a lot of successes in the past years and they are motivated by this to continue to strive for more.
“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. 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)” he said
Mr. Abdulai Abanga Deputy Minister for Works and Housing and a Member of Parliament for the Binduri Constituency in the Upper East Region commended TDC for delivering on its mandate of planning, developing, and managing the Tema Acquisition Area in the last 71 years.
“TDC Development Company Limited is widely recognized as a prominent player in the field of housing and sustainable community development. As a leading force in the realm of housing and sustainable community development, TDC Development has consistently played a crucial role in contributing to the development and growth of the housing sector in our nation.
This recognition positions you with significant potential to expand your operations beyond your current boundaries, allowing you 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
Ms. Alice Abena Ofori-Atta Managing Director of TDC, touched on the Community 26 Affordable Housing Project.
“In pursuit of completing the Government Affordable Housing Project at Community 26 (Kpone), I am glad to report that, we have completed seventy-one (71) blocks of flats in a gated community comprising studio, one bedroom and two bedrooms providing one thousand and seventy-two (1,072) apartments which are currently on sale” she intimated
The MD also expressed the need to use the Kaiser Flats enclave to pilot their the first phase of the redevelopment agenda and also contribute to the well-being of the communities within the Tema Acquisition Area and beyond.
“We have completed the demolition of six (6) dilapidated blocks of flats as the first phase (Phase 1) of the demolition exercise which has paved the way for the redevelopment activities to be carried out.
We are relentlessly putting in much effort to complete the demolition of the remaining seven (7) blocks as Phase II. We have consistently contributed to the well-being of our communities within the Tema Acquisition Area and beyond through our corporate social responsibility projects and donations in the areas of education, health, sports, environmental programs and financial support” she added