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BHC profits up seven-fold

Tuesday, December 12, 2023 | 1010 Views |

Core business: BHC's main revenues come from rentals and sales of units PIC: BHC.BW

The Botswana Housing Corporation (BHC) has reported pretax profits of P38.7 million for the six months to September, nearly seven times the level seen in the corresponding period last year.

In a notice to the Botswana Stock Exchange, the Corporation noted that the improved performance was powered by rental revenues, which rose by P30 million to P169 million. The rental revenues were in turn supported by a P29 million subsidy from government received during the period.

The BHC secured approval to annually hike its rental to market levels from government in 2020, but the increases for 2023 and 2024 were suspended to help Batswana recover from COVID-19’s financial impact.

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