TDC Development Company Limited has been adjudged as the overall best-performing State-Owned Enterprises (SOEs) in the 2020 Performance Evaluation Results for SOEs league table.

The honour from the Ministry of Finance was based on the 2020 State Ownership Report which covered 132 specified entities including 47 SOEs, 17 Joint Venture Companies (JVC), 45 other State entities, and 14 minority entities.

This was disclosed by the Managing Director of TDC, Alice Abena Ofori-Attah at a staff durbar organised in Tema to celebrate the company’s achievement.

She further acknowledged the contribution of workers towards the achievement and congratulated all workers for their commendable efforts which she said have brought victory for the company.

“All of us should contribute when we come to work because there is always a light at the end of the tunnel and somebody is watching us,” she added.

She expressed her profound excitement towards the company’s achievement as the award came at a time the company is also celebrating its 70th birthday.

Ms Ofori-Attah urged her staff to work hard regardless of their salary and be motivated by the company’s achievement and feel proud as workers of TDC.

“Do not come to work and say I don’t get paid enough for this work so I am going to relax because hard work pays,” she said.

She advised the workers to shun any bad attitude towards work and contribute their quota to maintain the company’s position at the top.

“Laziness did not bring us here therefore we must work hard to maintain our position and I would not hesitate to put anyone out who is not doing TDC work because it would delay us and bring us down,” she cautioned.

She said, “the success of every company is the quality of employees they have and if the quality sucks, there was no success in such a company”.

Ms Ofori-Attah cautioned workers whose actions, deeds, and mischiefs created image problems for the company to stop; “as they cannot risk the brand identity TDC has built over the past 70 years”.

From the 2020 report, there was a 24 percent increase in the coverage of performance of state-owned enterprises as compared to the 2019 report which covered 106 entities monitored by the Communication for Development and Advocacy Consult (CDA Consult) in Tema.

The TDC Development Company Limited (TDC) was set up in 1952 by an Act of Parliament with the sole responsibility to plan and develop about 63 square miles of public land for various land cases and also manage the township that had been created to provide accommodation to those that would be engaged in these economic operations.

TDC was given a 125 year lease term to manage this land area known as the Tema Acquisition Area.

The Company since its birth has gone through many experiences involving structural and legislative changes that have cumulatively given it a new lease of life.

Initially, its functions were:

  1. To Plan, Layout and Develop the Tema Acquisition Area.
  2. Without prejudice to the general effect of ‘a’ above the Corporation may for the purposes of the attainment of the object and with the prior approval of the Tema Municipal Assembly:
    • Construct roads and public buildings
    • Prepare and execute housing schemes
    • Develop industrial and commercial sites
    • Provide public utilities such as sewage and street lights
    • Carry on such activities as are incidental or conductive to the attainment of the objects

In 2017, TDC was converted into a Limited Liability Company with enhanced mandate to expand its operational and geographical scope beyond the Tema Acquisition Area.  Its new objects are:  

  1. To carry on the objects of Tema Development Corporation as per the Tema Development Corporation Instrument.  1965 (L.I. 469) as amended by the Tema Development Corporation (Amendment Instrument. 1989 (L.I. 1468)) as stated in (1) and (2) above.
  2. To acquire land both in and outside Ghana for real estate development and management.
  3. Planning, development and construction of towns and cities in and outside Ghana.
  4. Development and management of commercial and industrial areas.
  5. Consultancy services.
  6. To partner and or collaborate with other real estate developers (both local and international) and agencies for provision of the above services, and
  7. Investment in real estate concerns.
  8. Any other activities incidental to the attainment of the above-stated objects.