The National Housing Enterprise (NHE) has cleared the backlog on audited financial statements dating as far back as 2017. The milestone was announced recently by the Chief Executive Officer, Gisbertus Mukulu, following the approval of the 2022 – 2023 audited financials, rendering the Enterprise’s financial books up to date in line with the requirements of the Public Enterprises Governance Act, 2019.
Mukulu highlighted that the achievement was a result of concerted efforts from the Board, management and staff who worked tirelessly to improve the governance framework of the institution.
“When the Board was appointed in March 2023, they placed special emphasis on the matter of clearing the financial backlog and the implementation of this directive was positively adopted by everyone in NHE. I wish to commend the Board for the immense support and direction, and employees who worked beyond their normal call of duty which culminated into this achievement, it was indeed a daunting task,” Mukulu stressed.
The housing entity is expected to convene the Annual General Meeting after the completion of the amalgamated 2017 – 2023 Annual Report which is under production.
He further paid homage to the previous Board, who he described as “having laid the foundation for the clearing project having initiated the process on financial audits for 2017 – 2019 before their tenure came to a close”.
The clearing of audited financial statements is clear testament of the Enterprise’s intent on maintaining a positive outlook on corporate governance. “This feat allows us to approach financiers with renewed optimism to access capital funding to propel our numbers in terms of housing delivery as we seek to develop 865 housing units this financial year, as a short-term goal,” he said.
NHE has already launched projects at Omuthiya (33) and Ondangwa (64) and Windhoek where 113 houses are being constructed under the Informal Settlement Upgrading Project (ISUP). Plans are at an advanced to roll-out more projects in Swakopmund, Otjiwarongo, Okakarara and Mariental.