BHC aims to mitigate P14.5m profit slump

BHC Headquaters PIC: MORERI SEJAKGOMO
BHC Headquaters PIC: MORERI SEJAKGOMO

Botswana Housing Corporation (BHC) has recorded profit after tax of P3.5 million for the period under review, a decrease of P14.5 million compared to P18 million recorded in 2021 in the corresponding period.

According to the group’s unaudited results for the six months ended September 30, 2022, the corporation attributed the decrease to an increase in operating expenses and financing costs.

The group’s operating costs also increased year on year on the back of increased repairs and maintenance. Commenting on the results, BHC's acting CEO Nkaelang Matenge said during the period under review, they did not start any project and it has affected the rate of capitalisation to projects of both interest expenses and staff costs resulting in an increase in interest expenses year on year by 24% to P18 million.

Editor's Comment
Urgent call: Stop the killing!

The previous week, we had an article about a police officer shooting his wife, and turning the gun on himself, whilst he died, his wife survived and is still in the hospital.Sadly that was not the only article we carried on intimate partner killings. There was the Francistown case, where a young woman allegedly stabbed her ‘former boyfriend’ and many others which were reported throughout the week.As all the reports were coming in, a Botswana...

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