BHC plans to build 2,000 houses
Pauline Dikuelo | Wednesday September 20, 2017 12:41
According to the corporation’s financial results for the year ended March 31, 2017, under the Self Help Housing Agency (SHHA) scheme 1,376 houses were delivered and a further 177 houses were delivered under the Public Officers Housing Initiative (POHI).
At the end of the financial year, 1,125 SHHA houses, 372 houses for Instalment Purchase Scheme (IPS) and Youth Housing as well as 265 POHI houses were at different stages of construction.
BHC general manager, Reginald Motswaiso said about 1,878 additional houses will be started under these schemes across different constituencies in this 2016-2017 financial year.
“On the commercial side of the business, the corporation has 192 units under construction at different stages in Gaborone and Jwaneng, and all are expected to be delivered during the 2017-2018 financial year,” he stated.
He said in 2017-2018 financial year, 1,182 units would be started in Tutume, Tati Siding, Tonota, Francistown, Jwaneng, Palapye and Gaborone adding that these are areas where effective demand has been established and the houses are expected to attract huge interest from the market. The corporation also recently developed a six-year strategy aimed at delivering its new mandate, which encompasses the social housing aspect in which they are expected to deliver an average of 1,500 social housing projects and 1,800 commercial housing projects per annum.
Through the strategy, some key priority areas have been identified and these are mainly developing new partnerships with the private sector in housing delivery, responding to customer needs by building and designing for specific markets.
It also seeks to serve the markets currently not catered for, especially low-income groups and explore alternative technologies and optimisation of the BHC research capabilities.
“These strategic priorities would ensure focus on delivering the strategic plan and would guide management in the implementation of the long-term strategy. The strategic plan also pronounces and clearly articulates financial sustainability during the planning period,” he said.
In the financial year, the corporation recorded a P21 million increase in profit after tax to P49 million compared to the P28 million that was registered in the prior year. Motswaiso attributed this 73% increase on the back of improved gross profit margins as well as overall savings in expenses.
BHC recorded total revenues of P493 million, a decline of nine percentage points when compared to the P539 million in the prior year. The decrease in revenue was mainly driven by sales, which decreased by a significant P42 million or 13% from P326 million to P284 million.