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The Minister for Works, Housing and Water Resources, Ken Gilbert Adjei, has charged the governing board of the TDC Development Company Limited to be guided by innovative and sound governing principles as the company strives to provide accessible, affordable, and environmentally sustainable housing solutions to Ghanaians particularly the underserved.
Speaking at the inauguration of the new board of the TDC Development Company Limited in Accra, the sector minister observed that one of the major hurdles impeding housing affordability was the infrastructural burden TDC assumes in new developments.
He said the prevailing model, whereby the company pre-finances utility infrastructure for agencies such as the Electricity Company of Ghana and the Ghana Water Company, significantly increases development costs.
Mr Adjei implored the board to pursue a comprehensive and responsive national policy framework that incorporates cost-sharing mechanisms, targeted government subsidies, fiscal incentives and public-private partnerships.
The minister also entreated the board to work closely with the State Interests and Governance Authority (SIGA) to define measurable and ambitious Key Performance Indicators (KPIs) for the company’s management.
“These KPIs should serve as a strategic compass and an operational benchmark for continuous improvement of TDC,” the minister stated.
With TDC’s expanded operations now beyond the Tema Acquisition Area, Ken Adjei assured of the ministry’s readiness to facilitate access to state lands, promote equitable negotiations with traditional authorities and efficiently deploy statutory land acquisitions mechanisms.
Mr Adjei however expressed concerns about the considerable indebtedness owed to TDC by key state-owned entities, notably VALCO and the Tema Oil Refinery.
These organisations, the minister noted, continue to occupy lands under expired lease agreements.
He urged the board to lead a transparent but resolute effort to regularise any existing arrangements and pursue viable debt recovery solutions with firm diplomacy.
The Board Chairman, Mr Isaac Odamtten, on behalf of the board expressed their profound
gratitude to His Excellency John Dramani Mahama for the opportunity to contribute to his vision.
He assured that the board would put their expertise and their unwavering commitment at the disposal of TDC to ensure that the minister’s vision and by extension the president’s mandate in the housing sector was fulfilled.
The Seven-member Board has Mr Isaac Odamtten as the Chairman, Courage K. M. Nunekpeku (Managing Director), Ebenezer Sam, Adam Awal, Rev. Mrs Barbara L. Ayensu, Elliot Gordor and Abdul Gafaru Ali Esq as members.
