Ghana: TDC Board Tasked to Focus On Affordable Housing

26 January 2022

The newly inaugurated Board of the TDC Company Limited has been charged to reinvent their operational strategies and focus on government's new affordable housing programme aimed at increasing access to affordable housing to Ghanaians.

Minister of Works and Housing, Francis Asenso-Boakye, who gave the advice, said a push for affordable housing schemes would ensure low to middle income earners across the country have access to safe, secure and adequate housing facilities.

He was speaking in Accra yesterday during the inauguration of the new Board of the TDC Company Limited.

Chaired by Kofi Brako, the members of the Board include Alice AbenaOfori-Atta, Seth Abladey, Valerie Barbara Ashitey, Davis AnsahOpoku, Nicholas Arthur and Samuel Abakah.

The Minister stated that the government's new affordable housing policy direction was to leverage private sector investment by facilitating the provision of secured land, along with the requisite infrastructure, as well as work with relevant state institutions to grant tax exemptions, with the private sector providing the funding to undertake the actual construction works.

Having completed the modalities for the implementation of the affordable housing programme, MrAsenso-Boakye indicated that the Ministry was ready to collaborate with the TDC on proposals that relate to the provision of affordable housing, adding that the success of the objective would be an enduring legacy of the government.

He commended TDC Limited for the demonstration of consistent demonstration of operational viabilities over the years, which has seen the company increase its profit margins and by extension, impacting the socio-economic development of the country.

"The TDC made enormous contribution to government's dividend receipts of GHC1.4million in 2019. I am also aware of how the company increased its revenue from GHC75.7 million to GHS 78.8 million, representing a four per cent growth rate between 2018 and 2019.

In addition, TDC further recorded a positive net profit of GHC27.65 million in the same year, a clear indication that the current business model of the company is profitable," he added.

Acknowledging the contribution of TDC in the provision and development of infrastructure such as social housing, industrial enclaves and maintenance and construction of roads and public buildings, the Minister expressed confidence in the new Board to consolidate the gains of the past, optimise the efficiency of the company, and make government's affordable housing programme successful.

MrAsenso-Boakyefurther reiterated the importance for the Board to focus on their mandate of providing strategic direction to the management and desists from engaging in the direct day-to-day administration of the company, saying that such undue interferences had in the past, created problems in the smooth operations of institutions.

MrBrako, on behalf of members, expressed his profound gratitude to the government for honouring them with the opportunity to serve on the Board.

He assured the minister of the board's commitment to provide excellent leadership to ensure that TDC plays an impactful role in the President's Affordable Housing Programme.

"We are mindful of the sacred trust imposed in us and this is an opportunity to serve our country and much work awaits us to further transform TDC," he added.

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