Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Banner Left
Banner Right

Uutoni applauds improved financial performance of National Housing Enterprise

The minister of urban and rural development, Erastus Uutoni, has praised the National Housing Enterprise (NHE) for improving its finances, including recording a profit last year.

Speaking at the opening of the NHE’s annual general meeting on Friday, Uutoni commended the housing parastatal’s leadership for its achievements during the 2023/24 financial year.

“Realising a profit is surely an indication that an effort has been made to put the NHE in a financially sound position. After many years of being in the negative, at least now financial prudence is starting to show,” Uutoni said.

“I wish to encourage the leadership to keep improving this financial performance, so that the enterprise is able to do more for our people as far as housing provision is concerned,” Uutoni added.

He reiterated the NHE’s mandate, which is to finance and build decent, affordable houses.

The parastatal’s board chairperson, Toska Sem, stated that the NHE recorded a healthy financial position with a total asset base of N$1.2 billion in its last financial year. She added that the NHE realised a profit of N$6 million during the 2023/24 financial year.

Revenue increased by 35 percent, from N$169 million in 2023 to N$229 million in 2024.

This increase was due to more housing units being sold, which increased from 223 units in 2023 to 445 units in 2024, according to Sem.

“This healthy statement of financial position, along with a low debt/equity ratio and a moderate cash position, renders the enterprise resilient in the current economic climate. This has partly been made possible by the return of the mass housing mandate, but we have also adopted interventions that ensure efficiency such as engagements with local authorities,” she said.

However, Sem noted that the NHE has faced difficulties in acquiring affordable land in urban centres.

She added that the NHE has observed a worrying trend in which potential beneficiaries miss out on owning homes due to their negative creditworthiness.

Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!

Latest News