BHC signs compact agreement with govt
Keikantse Lesemela | Tuesday December 2, 2014 08:45
Speaking during the signing ceremony of a shareholder compact agreement with government in Gaborone yesterday, Pheko said the board accepts the responsibility to direct and guide the business of BHC in a proper manner and institute necessary policies.
“Through the compact, the board commits itself to the achievement of the vision, mission and values of the corporation and to always act in the best interest of the corporation and the shareholder within their powers and avoid any conflict of interests,” she said.
Pheko said the purpose of the agreement is to deliver commensurate resources and demonstrable improvements in service delivery for the provision of housing in the country.
“The case for change must be evidenced against this criteria. We appeal to the shareholder to ensure that the corporation is adequately resourced to attain the targets covered in the shareholder compact and that adequate financial and administrative resources are availed in time,“ she said.
The agreement will also give the corporation and the shareholder an opportunity to reflect on the roles and responsibilities for the execution of the housing delivery mandate. Pheko explained that the corporation has put in place a strategic plan that is aligned to the ministry plan and the national development plan.
“The plan covers how the corporation will manage its risks, enhance customer care and the delegation of the board responsibilities to management as well as its finance and borrowing models,” she said.
She said through cooperation with the shareholder, they would be able to come up with a vibrant and efficient system for the production of quality housing in Botswana.
In his notes, the minister of Lands and Housing, Prince Maele, said government expects BHC to subscribe to the overarching good corporate governance principles of fairness, responsibility and transparency in all its operations.
“It is expected that BHC will drive implementation of all government housing initiatives,” he said.
Government established the shareholder compacts in 2012 to ensure there is effective management and good performance among the parastatals.
Maele said the compact is one of the corporate governance best practice tools and is mandatory for all parastatals.