TDC Ghana Ltd has recorded a strong financial recovery in 2024, posting significant growth in profits and assets, and recommending a GH¢3 million dividend for its sole shareholder, the Government of Ghana.
The performance was announced by the Board Chairman, Isaac Ashai Odamtten, at the company’s 5th Annual General Meeting(AGM) held at the TDC Towers in Tema, Community 2, on Friday, January 30, 2026.
Mr Odamtten, who is also the Member of Parliament for Tema East, reported that TDC’s gross profit increased by 33.67 per cent to GH¢130.96 million, up from GH¢97.97 million in 2023. Profit before tax rose by 20.88 per cent to GH¢88.22 million, compared to GH¢72.98 million the previous year.
The Board Chairman noted that the company also strengthened its balance sheet, with total assets rising by 19.02 per cent to GH¢733.76 million, while shareholders’ funds grew by 12.57 per cent to GH¢510.47 million, reflecting improved financial resilience.
Mr Odamtten attributed the strong performance to enhanced operational efficiency, strategic focus, and disciplined financial management despite a challenging economic environment.
“The year under review marked a turning point for TDC, as the company returned to sustained growth while strengthening profitability and long-term value creation,” he said.
Housing delivery and expansion
The Board Chairman emphasised that demand for affordable and mid-income housing remained strong due to rapid urbanisation, though access to financing continues to limit private-sector participation. TDC’s strategic response focuses on urban redevelopment, regenerating ageing estates, and optimising land use to improve living conditions and asset value.
“These initiatives are implemented in line with approved redevelopment frameworks, with strong emphasis on stakeholder engagement, value-for-money, and regulatory compliance,” Mr Odamtten said.
“Through these efforts, TDC is unlocking latent asset value while contributing to sustainable urban renewal and improved living conditions,” he added.
He reaffirmed TDC’s commitment to corporate governance, compliance with State Interest and Governance Authority (SIGA) guidelines, and prudent financial management, balancing shareholder returns with reinvestment for growth.
“TDC is not only building houses; we are building communities and creating a lasting legacy for Ghana,” he said.
Government support
The Minister of Works, Housing and Water Resources, Kenneth Gilbert Adjei, praised TDC for addressing the nation’s housing deficit and promoting sustainable urban development.
He highlighted the Ho Oxygen City project as a model integrated community, featuring an industrial park, health and tourism facilities, an 18-hole golf course, commercial and business districts, complemented by modern infrastructure.
Mr Adjei stressed the importance of collaboration among public and private sectors, traditional authorities, financial institutions, and local governments to tackle the housing deficit, positioning TDC as a key anchor in the government’s Housing Reset Agenda.
Outlook
The TDC Managing Director, Courage M.K. Nunekpeku, announced plans to deliver 10,000 affordable housing units across five regions within the next five years.
The company has commenced a regional expansion programme, starting in Ho and extending to four additional regions to strengthen its national footprint.
Ongoing projects include developments at Community 22 and Community 26 in Tema, Community 1 Site 3, and Manya-Jorpanya in Shai-Osudoku. Central to TDC’s vision is the Ho Oxygen City project, a master-planned urban development integrating housing, commercial spaces, green areas, and essential infrastructure designed to stimulate economic activity, create jobs and attract investment.
Beyond infrastructure, he said, TDC continued to invest in people and communities through education, health care, technology adoption, and corporate social responsibility initiatives.
The company has also introduced Premium and Prestige Services, a 24-hour Call Centre, Courier Services, and a Business Centre to enhance operational efficiency.
Stock Exchange
The Director General of SIGA, Prof. Michael Kpessa-Whyte, commended TDC’s operational efficiency, customer-focused services, and governance, while announcing plans to explore the listing of TDC on the Ghana Stock Exchange to attract capital, enhance competitiveness, and unlock the company’s full value.
“TDC is well positioned to consolidate gains, unlock the full value of its portfolio, and continue driving sustainable development in Ghana,” Prof. Kpessa-Whyte said, reaffirming SIGA’s commitment to strategic oversight and shareholder value.
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