Progress of NHC in line with President Samia's pace
The National Housing Corporation (NHC) is dedicated to aligning with President Samia Suluhu Hassan's drive to bring development to Tanzanians through the sectors of quality housing and sustainable cities.
Government Strategy for Housing Development
The current pace of NHC in executing its developmental projects aligns with the implementation of its 10-year Strategic Plan (2015/16 – 2024/25) aimed at ensuring the creation of quality housing for national development. This reflects the sincere commitment of the Sixth Government under President Samia, who is determined to ensure citizens have better housing.
NHC's Role and Establishment
NHC is one of the vital institutions for the well-being of Tanzanian housing, economy, and life. Since its establishment in 1962 under Parliamentary Act No. 45, its forefront goal has been providing citizens with better housing.
NHC's Primary Roles
NHC's primary roles include constructing residential homes and other buildings for sale and rent; constructing buildings based on approved schemes by the government; producing and facilitating the production of construction materials; managing its property including maintenance and rent collection; and conducting advisory, planning, and construction contracting activities for homes and commercial buildings.
Achievements
The NHC's Information and Public Relations Manager, Muungano Saguya, notes that the organization's tasks are carried out according to its 10-year Strategic Plan (2015/16 – 2024/25), aimed at enabling house construction and managing the corporation's housing resources.
Financial Progress
Saguya mentions that the results from executing the Strategic Plan include the management of the corporation's revenues. "According to audited accounts by the Controller and Auditor General of the Government's Accounts (CAG), the corporation's revenues have continued to increase from an average of TZS 144.2 billion in 2021 to TZS 257.47 billion in 2022,"
Operational Costs and Profits
Regarding operational costs, Saguya states that the various expenditures of the corporation, including operating expenses and building renovations, reached TZS 48.5 billion in 2022, with an expected expense of TZS 50.5 billion for 2023.
Assets and Taxes.
Discussing the growth in the corporation's asset value, Saguya mentions that according to the audited accounts by the CAG ending in June 2022, the total asset value of the corporation stood at 5.04 trillion Tanzanian Shillings. Saguya adds that due to increased revenues and profits, the NHC was able to pay various taxes amounting to approximately TZS 32.4 billion in 2022/2023.
Project Implementation
Saguya mentions that the corporation continued implementing various projects, including urban improvement by demolishing old buildings and constructing new ones, the Mwongozo Housing Project in Dar es Salaam, and the Kigamboni Satellite City.
Challenges and Mitigation.Saguya acknowledges that despite these achievements, NHC faces several challenges. Among them, the delay in accessing land for development projects remains a primary issue. Moreover, he mentions the challenge of acquiring sufficient funds for project implementation, though the corporation seeks partnerships with financial institutions to secure financing for its projects.
Future Outlook
Looking ahead, Saguya affirms the corporation's commitment to President Samia's vision of improving the living standards of Tanzanians through the provision of quality and affordable housing. The corporation aims to establish partnerships with private and public entities to foster collaboration in the housing sector, thereby ensuring increased access to housing and sustainable urban development.
NHC, under President Samia's leadership, is steadfast in its efforts to address housing challenges and foster sustainable communities in Tanzania. The corporation's achievements, ongoing projects, and future initiatives reflect its commitment to providing quality and affordable housing while contributing to the country's socioeconomic development.