Housing authority makes over K6 Billion loses

The Malawi Housing Corporation (MHC) has reported losses exceeding K6.5 billion from 2020 to 2025, authorities say.

Now, there are also forecasts suggesting an additional loss of K1.9 billion in 2026.

During a session with the Parliamentary Committee on Public Accounts at the MHC Headquarters in Blantyre, the Chief Executive Officer of the Corporation, Bob Chimkango, stated that this situation is hindering MHC’s operations.

Chimkango noted that the losses are partly due to a decrease in the number of houses owned by the Corporation, which has fallen from 15,000 in 1994 to the current total of 6,422 units.

Currently, the demand for housing from MHC is around 100,000 units.