TDC’s revenue soars in the midst of COVID-19

August 25, 2021 By 0 Comments

The TDC Development Company Limited recorded soaring revenue in 2020, with an amount of GHS115,845, 395.03 representing a 76.27 per cent increment over 2019, amidst the COVID-19 pandemic.

In 2019, a year preceding the pandemic, there was a marginal fall in revenue of 2.82 per cent in the revenue realised in 2018 from GHS 90,839,776.04 to GHS 88,351,040.33.
“A 57.15 per cent increase in total revenue was achieved in 2018, increasing revenue from GHS 57,801,756.73 to GHS90,839,776.04” revenue figures, Mr Ian Okwei, TDC Protocol and Administrative Officer told the Ghana News Agency in Tema on Monday.

He said revenue recorded for 2017 summed up to a total of GHS 57,801,756.83 constituting a 30.6 per cent increase in the total revenue realised.
Despite the global economic crises in 2020, there was a huge 76.27 per cent increase in the revenue collected, compared to 2019, where total revenue increased from GHS 88,351,040.33 to GHS 115,845,395.03.

Mr Okwei said as at 2021 mid-year, total revenue collected stood at GHS 70,569,014.88 which was more than 50 per cent of total realized income for 2020.

He said, in spite of the constraints of COVID-19 globally, the company was still able to meet its forecasted revenue collection figures and even in the height of the outbreak of the COVID-19 pandemic, where most companies laid off some workers and salaries slashed, TDC did not experience such challenges.

“The company was able to pay its staff full salaries and all staff maintained while all bonuses due them at the end of 2020 were paid fully as well,” he added, and said, the company was able to use its Internally Generated Funds to continue with the Community 26 Kpone Affordable Housing Project.
Mr Okwei said the company had put in place a multiple payment portal where its clients could pay their ground rents and others through a short code on all networks. He added that the company had also signed on some banks to facilitate such payments in the most convenient and stress free manner.

He stated that, TDC as part of strategies to rake in, had resorted to a new billing system through “Whatsapp” messaging and Bulk SMS; which require clients accessibly follow payment prompts to make payments.
Those, amongst other strategies, he indicated, had resulted in increased revenues, and added that some designated persons, on a daily basis, collated feedback from clients and subsequently educated them on the system for enhanced service delivery.

GNA