BHC to repossess houses
Tsaone Basimanebotlhe | Thursday February 11, 2016 16:20
The Minister of Lands and Housing, Prince Maele, was answering a question from the MP for Francistown South, Wynter Mmolotsi who wanted to know if the BHC scheme would be resuscitated. “First, BHC could not sustain borrowing money which it paid on short term to build houses while recovering payments through TPS on long term basis,” Maele said. “Second there was a high level of arrears as most beneficiaries of the instalment schemes failed to honour the agreed payment terms.”
Maele said after careful consideration, the BHC was preparing to sell some of its houses under the revised TPS.
“In this respect, my ministry is currently working closely with the Ministry of Finance and Development Planning to finalise the terms of the new scheme, after which the sale of some BHC houses under the revived TPS will commence,” he said. The minister said that the new TPS would not necessarily take the same form and shape of the old scheme.
TPS was first introduced in 1986 and was stopped in 2004 and another instalment scheme, step ownership scheme, was introduced in 1998. Recently, BHC embarked on an organisational restructuring exercise that seeks to transform the corporation into a new entity with an appropriate business model, human resources, processes and systems that are expected to drive the efficient and effective delivery of the SHHA mandate. BHC corporate communications manager, Tebogo Mmokele, made the admission that the organisation review and restructuring exercise is organisation wide and therefore affects all employees.