Erastus Uutoni from the Urban and Rural Development Ministry recently praised the National Housing Enterprise. He liked how they fixed their money troubles and made profits last year.
At the NHE yearly meeting on Friday, Uutoni said making money shows they worked hard to fix their finances. He mentioned they had lost money for many years before this turnaround. He asked the leaders to keep making their finances better so they can build more houses for people who need them.
Uutoni reminded everyone that NHE exists to help finance and build good houses that regular people can afford. The head of the NHE board, Toska Sem, shared some good news about their financial situation. Their total assets reached N$1.2 billion last financial year, and they also made a profit of N$6 million during 2023/24.
Their income jumped 35 percent from N$169 million in 2023 to N$229 million in 2024. This happened because they sold a lot more houses than before. The number doubled from 223 houses in 2023 to 445 houses in 2024. Sem explained that this healthy money position makes them strong even when the economy feels shaky.
The return of their mass housing program helped them succeed. They also worked better with local authorities to improve their operations. Despite these wins, Sem pointed out some problems they face. Finding cheap land in cities remains tough for them. She also mentioned that many people miss out on buying homes because they have bad credit scores.
At the NHE yearly meeting on Friday, Uutoni said making money shows they worked hard to fix their finances. He mentioned they had lost money for many years before this turnaround. He asked the leaders to keep making their finances better so they can build more houses for people who need them.
Uutoni reminded everyone that NHE exists to help finance and build good houses that regular people can afford. The head of the NHE board, Toska Sem, shared some good news about their financial situation. Their total assets reached N$1.2 billion last financial year, and they also made a profit of N$6 million during 2023/24.
Their income jumped 35 percent from N$169 million in 2023 to N$229 million in 2024. This happened because they sold a lot more houses than before. The number doubled from 223 houses in 2023 to 445 houses in 2024. Sem explained that this healthy money position makes them strong even when the economy feels shaky.
The return of their mass housing program helped them succeed. They also worked better with local authorities to improve their operations. Despite these wins, Sem pointed out some problems they face. Finding cheap land in cities remains tough for them. She also mentioned that many people miss out on buying homes because they have bad credit scores.
