 Amidst the effects of the global financial crunch, the investment industry’s dismal performance and the company’s recent hiccups, NTHC is finding a new and vibrant life. In fact and deed, the firm has withstood the risk of being locked in a spiral of decline. 2009 was a challenging but exciting year with the company performing exceptionally well in some areas and falling short in others.
Management
The traditional management virtues of determination, discipline, calmness under pressure and strategic decision making based on meticulous sifting of evidence now underpins management philosophy. The present leadership is doggedly building on NTHC’s proven strengths, while simultaneously identifying and eradicating weakness.
NTHC is concentrating on operating efficiency, timely execution and customer service. 2010 unfolds a leadership determined to make NTHC the market leader in the lucrative parts of the industry since the company has a good chance of putting a number of things hindering its progress right. Management approach is simple, incremental and requires painstaking attention to what client’s want. In pursuing such a task, NTHC’s stellar reputation will shine again.
These are the tasks that I intend to deliver in management that will propel NTHC into its bright future.
Business Performance Highlights
2009 was meant to build upon the success of the previous year however this could not be achieved. The company recorded a profit before tax of GH¢233,008, a 52%dip on the previous year. This was largely the result of underwriting fees being 61% lower than the previous year’s. That notwithstanding, other income generating units posted impressive results and this is expected to continue.
In line with the aim of keeping General and Administrative expenses at efficiency levels, the company was able to maintain the 2008 levels.
Employees
The company continues to invest in its human resources. The dedication, professionalism and enthusiasm of our employees at every level of the company never fail to impress me. On behalf of the Board, I would like to thank all our employees who worked extremely hard in very trying conditions with great enthusiasm, for their contribution to the success of the company. IT In recognition of the role IT plays in the finance industry, the company has invested heavily in Information Technology. The company now has a Product Development team that has been tasked with developing all the softwares in-house and coming up with new products as well as ensuring that NTHC is always abreast with the latest trends in this dynamic environment.
Branches A branch will be opened in Kumasi in the second half of the year. This will enable the company to mobilize funds from the northern parts of the country thereby expanding its income generation means. This will also have the effect of bringing the company closer to its clients in those parts of the country.
New Products A new product is being developed and this will be rolled up during the second half of the year. The product will leverage on modern ICT to mobilize funds from low and middle income persons.
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