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By Edward Graham Sebbie and Samuel Asamoah
TDC Ghana Limited has posted a strong financial performance for the 2024 operational year, declaring a proposed dividend of GH¢3 million, subject to shareholders’ approval.
The performance was underpinned by a significant increase in revenue, which rose from GH¢97.97 million in 2023 to GH¢130.96 million in 2024, representing a profit growth of 33.67 percent.
According to the company, the proposed dividend reflects its solid financial position, improved profitability and healthy cash flow, while preserving the capacity to invest in strategic initiatives to drive long-term growth and value creation.
Speaking at TDC’s 5th Annual General Meeting (AGM) held in Tema, Board Chairman, Isaac Ashai Odamtten, said the Board is focused on consolidating the gains achieved during the year under review. He disclosed that the company’s total assets grew by 19.03 percent, from GH¢616.8 million in 2023 to GH¢733.76 million in 2024, while stakeholders’ funds also increased by 12.57 percent.
Mr. Odamtten said the results point to a resilient balance sheet and position TDC as an organisation steadily building long-term value. He reaffirmed the Board’s commitment to a sustainable dividend policy that balances shareholder returns with the company’s transformational and expansion agenda, with urban redevelopment remaining a key priority.
He further highlighted TDC’s structured regional expansion programme across five regions, noting that sod was recently cut for the Ho Oxygen City project in the Volta Region. The initiative is expected to deliver about 10,000 affordable housing units nationwide, supported by strong stakeholder engagement, value-for-money considerations and strict compliance with planning and regulatory frameworks.
According to him, the programme is expected to unlock latent asset value, contribute to sustainable urban renewal, improve living conditions and enhance long-term returns to the state.
Managing Director of TDC Ghana Limited, Courage Makafui Nunekpeku, said addressing Ghana’s housing deficit requires collaboration among industry players, stressing that no single institution can resolve the challenge on its own. He explained that TDC’s mandate is to complement, rather than compete with, other national housing initiatives.
Mr. Nunekpeku expressed optimism that the company would post even stronger results at its next AGM, building on reforms and initiatives introduced since he assumed office. These include the introduction of premium and prestige services, courier services, a 24-hour call centre and a business centre, which he said have strengthened market positioning, expanded revenue streams, improved customer experience and enhanced operational efficiency.
He announced that planned projects include the construction of 15 additional blocks at the Kpone Affordable Housing Project site, redevelopment of the TDC Club House, the construction of four 15-storey two-bedroom apartment blocks at Community One, Site 3, development of Oxygen City apartments, shops and offices in Ashaiman, and the procurement of an Enterprise Resource Planning System (ERPS).
Despite prevailing macroeconomic and operational challenges, Mr. Nunekpeku said TDC remains committed to inclusive development and sustaining its leadership position in the housing sector. He acknowledged the continued support and oversight of the Ministry of Finance, the Ministry of Works, Housing and Water Resources, the State Interests and Governance Authority (SIGA), and other stakeholders.
Guest Speaker and Minister for Works, Housing and Water Resources, Kenneth Gilbert Adjei, described TDC as a key agency and strategic vehicle for the delivery of government’s housing and urban development agenda. He commended the company for repositioning itself through private sector partnerships, innovative financing models and improved land administration.
The Minister said government recognises the housing deficit as a major national challenge and expects TDC to play a pivotal role in addressing it. He noted that the company’s mandate extends beyond real estate development to promoting inclusive and affordable housing, supporting sustainable urban planning, ensuring responsible land management, protecting public land assets, and leveraging technology to enhance efficiency and transparency.
Mr. Adjei pledged the government’s unwavering support to ensure strong corporate governance and the successful execution of TDC’s mandate.
Following deliberations at the AGM, shareholders adopted the company’s annual report and financial statements for the 2024 year under review.
