Adolf Kaure

The National Housing Enterprise (NHE) reported a N$23 million net profit for the 2024/2025 financial year. This was announced by NHE board chairperson, Toska Sem, during their annual general meeting, where the entity’s 2024/2025 annual report was presented in Windhoek on Friday.

The N$23 million net profit represented a significant improvement from the N$6 million net profit recorded for the 2023/2024 financial year.

According to Sem, NHE’s call to action is to execute on its mandate of financing and delivering housing while being aligned with governmental development plans. “Our call to action is to readily deliver on the NHE mandate, as stated by President Netumbo Nandi-Ndaitwah, and that is 10 000 houses per year, as it has been stated in the Swapo party Manifesto, NDP6 and this is also co-aligned with our integrated strategic business plan,” said Sem. 

“We are here to work for the masses and deliver. We just ask for further dedication and collaboration, starting from policy setting, tone setting from the directors and execution from management,” she said.

She expressed her gratitude towards the board of directors, the NHE CEO Gisbertus Mukulu, as well as Urban and Rural Development minister James Sankwasa, for their involvement in the enterprise’s financial success.

“This is just a dedication and a testimony to the cooperation and the leadership for the unity that we as a board have by setting the tone,” said Sem. “I want to commend our minister for his stewardship and leadership in driving the enterprise to deliver and finance housing to the majority in all four regions of Namibia. I also want to commend the CEO and his entire executive team for being very cooperative and for executing the integrated strategic plan,” she said.

Housing delivery

The NHE managed to deliver a mere 191 houses for the 2024/2025 financial year.

However, Sem noted that it was a step in the right direction in fulfilling their mandate and aligning with governmental development plans.

“These were the enabling instruments that we needed to put into place to allow us to deliver. 

Going forward, it becomes a call then for us to be proactive and be mindful and for us to understand the different segments in the 14 regions on how we can deliver houses. Most importantly, engaging with the local authorities,” she noted. Also speaking at the meeting, Sankwasa said that NHE needs to increase the pace of housing delivery to ensure that the country’s citizens receive decent, affordable houses.

“I take note that NHE completed only 191 houses across five towns as reported in the year under review. In view of this snail pace of housing provisions against housing targets set by the government, we have a lot of work to do regarding this extremely low output. The Swapo Party manifesto, which became our developmental directive is clear on the volumes we want to achieve in terms of housing delivery,” said Sankwasa.

Contract extension

The NHE board of directors’ tenure came to an end on 28 February. 

However, Sankwasa extended their term for an additional six months.

The NHE board of directors consists of Toska Sem (chairperson), Hasting Tjipuya (deputy chairperson), Ritta Khiba, Adda Angula, Erikson Mwanyekange, Oshoveli Hiveluah and Socrates Dias. 

-akaure@nepc.com.na