According to the Botswana Housing Corporation (BHC) audited financial results for the year ended 31 March 2022, the corporation recorded an impressive operating surplus of P 61 Million compared to the previous year. The profit before tax increased significantly from P2 Million in the prior year to P72 Million. This resulted in an overall increase in surplus after Tax from P1 Million prior year to P64 Million for the year under review.
Rental revenue increased the surplus by 15% from P209 to P240 million. The corporation recorded total revenue of P702 million with a decrease of 8% compared to the P760 million-recorded prior year.
“Facilities management revenue decreased by P24 million from P69 million recorded in prior year to P45 million due to reduction in projects,” said BHC Chief of Finance Office, Diratsagae Kgamanyane. He further stated that challenges were experienced post Covid 19 from non-payment of rentals.
With the corporate’s strategy to build 12 300 new houses by the year 2023, BHC Acting CEO Pascaline Sefawe said, “People tend to accuse us of only building houses in Gaborone, so here we are, including other areas in our planned projects.” She announced developments planned in Letlhakane, Francistown, Kazungula and Maun.