NHE is 'self-sustaining'

May 15, 2014, 5:37pm

The Namibian, Wednesday, 06 March 2013 - Story by Staff Reporter,

The N$320 mollion that Finance Minister Saara Kuugongelwa-Amadhila set aside for the National Housing Enterprise (NHE) in her 2013 - 2016 Medium Term Expenditure Framework (MTEF) is "purely for capital projects", NHE chief executive officer Vinson Hailulu said. According to the MTEF, the NHE will get N$100 million in 2013 - 2014, N$100 million in 2014 - 2015 and N$120 million in 2015 -2016. The Estimates of Revenue and Expenditure 2013 - 2016 states that this money is for the recapitalisation of NHE, as well as th SOE to provide affordable housing. Hailulu said NHE "prides itself as on of the self-sustaining SOEs financially, technically and organisationally".

"NHE has never, in its two decades of existence, found itself in a situation where Government had to come to its financial rescue for being unable to meet its operational costs obligations", he stated.

The allocation of N$320 million over the MTEF is "purely for capital projects in order to provide for the construction of affordable housing', he said.