NDFD records surplus in 2011

Ronald Knight

The National Development Foundation of Dominica (NDFD) has recorded a surplus of $237,500 in 2011, officials have revealed.

This is an increase from $188,245 in 2010.

Speaking at the organization’s 31st Annual General Meeting Executive Director, Ronald Knight, said there was a major increase in the company’s main source of income.

“The NDFD was able to show a surplus of $237,500 which is an increase from $188,245 over the year before. We saw a major increase in our main source of income which is our loans of over a $1-million which was six percent increase over the year before.” Knight disclosed.

He said the NDFD has made strides in other areas including recovery.

“The other areas that we really saw increase was the loans processing fees, and we had a lot of work done by our recoveries department which showed an increase in bad debt recovered of $51,000. Last year we instituted a new business which was our business support unit which showed the relevance we saw people coming to get business and marketing plans done and to also assist with their records,” Knight stated.

The NDFD says over 1,500 loans were approved in 2011 to the tune of $5-million.

“We are now at a better cash position, we have recorded a decrease in our negative cash flow which shows that there is more cash available to unlend,” Knight said.

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10 Comments

  1. Sweet S
    September 7, 2012

    Great Job NDFD. Job well done to the staff and Management of the NDFD. Ronald is indeed an exemplary manager.

    Keep on striving for the best!!!!!!!!!!!!

  2. Justice and Truth
    September 6, 2012

    Since NDFD recorded a surplus, a decrease in interest rates would be appropriate for customers even though for some months to one year.

    • Appreciate
      September 8, 2012

      NDFD already has the lowest interest rates. I would leave it as is. The more money they make, the more they have to assist other people!

    • budman
      September 10, 2012

      @Justice. so the minute they get on the right path and turn around the negative cash position , you bawling for rate reduction?? then when the already low rates go lower and the surplus becomes a deficit again, you will jump up and say “dese fellas don’t know what dey doing”

  3. sweet
    September 6, 2012

    keep on doing a great job. thumbs up to you Ronald you are a good example of a manager.. i think you need to give some managers tips on how to treat their staff.. you work so well with them.

    • Anonymous
      September 6, 2012

      i support your comment 100%. if more managers and/or managing directors took tips from a manager like you we would have much happier employees.the staff are always ready and willing to help. its such a shame when employees look at the work place a prison where their voices cant be heard. keep it up! two thumbs way up!

  4. Resident
    September 6, 2012

    Isn’t NDFD supposed to be a non-profit organization? However, continue the great job, maybe you guys can recruit 5 more young persons to assist with loans and debt recovery. IJS.

    • Redz
      September 6, 2012

      Non-Profit organization and thus the reason for the term “surplus”

  5. Dominican
    September 6, 2012

    WELL DONE!

  6. Anonymous
    September 6, 2012

    Getting there sowly but surely, great work NDFD staff and Board. Roam wasnt built in a day….

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