Africa-Press – Botswana. Despite being listed among profitable parastatals recently, Botswana Housing Corporation projects a sharp downturn in its latest unaudited results.
The Botswana Housing Corporation (BHC) expects to report a loss of approximately P102 million for the financial year ended 31 March 2025.
Warning in a cautionary statement just issued, BHC says the anticipated loss represents a significant downturn from the previous year’s profit of P42 million – a swing of P144 million.
In line with Botswana Stock Exchange (BSE) listing requirements, BHC moved to alert stakeholders once it was satisfied that its financial results will differ materially from those of the previous period.
Down 343%
“Pursuant to the above, the Board of BHC advises all stakeholders that the unaudited financial results of the Corporation indicate a decline in Profit Before Tax (PBT) for the year ended 31 March 2025,” the statement reads.
The projected P102 million loss represents a 343 percent decline compared to the audited profit before tax of P42 million for the year ended 31 March 2024.
BHC says the cautionary is based on its unaudited financials and that the audited statements will be published on or before 31 August 2025.
Surprise to investors
The financial warning comes just weeks after BHC was listed among profitable parastatals by the Minister of Finance and Vice President Ndaba Gaolathe.
Responding to a question that sought to determine which parastatals had consistently generated profits over the last three financial years, Gaolathe named BHC among the five that had done so.
His statement was based on audited figures from previous years, including BHC’s reported profit of P42 million for the 2023/2024 financial year.
The projected loss for the most recent financial period may therefore come as a surprise to Parliament and investors.
Strategic direction intact
BHC, which has maintained a corporate bond listed on the BSE since December 2018, has advised stakeholders to exercise care in transactions involving its securities.
“Stakeholders are advised to exercise caution when dealing with the Corporation’s securities until the publication of the audited financial statements,” it says in the statement.
The statement emphasises that the latest cautionary does not reflect any change in strategic direction but rather the financial realities of the reporting period.
Across property market
Established by an Act of Parliament, BHC is tasked with addressing Botswana’s housing needs by providing accommodation for government and local authorities.
It also facilitates property development, sales, leasing, and management for the broader public. Despite the financial headwinds, BHC continues to operate across key segments of the property market.
For More News And Analysis About Botswana Follow Africa-Press
