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National Housing Trust

Dr. The Most Hon. Andrew Holness, ON, PC, MP

Minister with Portfolio: Office of the Prime Minister & Economic Growth and Job Creation

Office of the Prime Minister (OPM)

Mrs. Carol Palmer, CD, JP

Permanent Secretary

Ministry of Science, Energy and Technology (MSET)

Lennox Channer

Board Chairman

National Housing Trust (NHT)

Overview

The National Housing Trust (NHT) was established in Jamaica in 1976 and became a body corporate in 1979 under the National Housing Trust Act. It is an institution created to respond to the housing needs of Jamaicans by lending money at low interest rates to Contributors who wish to build, buy or improve their houses or who wish to buy or build on lots. The NHT also develops housing schemes for sale to Contributors and provides low cost financing to private developers.

Over the last three financial years 2020/21 to 2022/23 the NHT delivered 6,657 housing solutions to the market. For the Financial Year 2024/25 the Trust plans to commence construction on 15,009 new housing solutions and deliver a total of 3,664 solutions, comprising a mix of residential lots and houses.
To achieve these targets the staff and the Board of the NHT must ensure there is robust corporate governance. Let’s see how they are doing!!

Key Compliance Results

Indicators	Findings

Board Composition
Has a Board with requisite skills as per the Competency Profile
Current Chairperson is not sitting more than two (2) consecutive terms
Current Chairperson chairs no more than two (2) other public bodies
Has a Board with a minimum of 30% male members
Has a Board with a minimum of 30% female members
Current Board retains at least 3 members or one-third of the previous Board

Governance Structure
Has a Board Charter
Has a Non-Executive Chair
Has a trained Corporate Secretary
Hosts Board training
Conducts Annual Board Evaluations
Ensures Board processes are executed
Ensures Board minutes are transmitted to the Permanent Secretary
Has an Information and Disclosure Policy

Audit and Internal Control
Has an internal auditor
Has an Audit Committee with clear terms of reference
Has an Audit Committee with three (3) or more members including a qualified accountant/persons possessing expertise in finance
Has an Audit Committee that does not include the Board Chair
Has an Audit Committee that excludes the Procurement Committee Chair
Has a Procurement Committee that rotates members every three (3) years
Has an independent Chair of the Procurement Committee (not chaired by the Finance Director)
Has Board procedures regarding procurement oversight
Has a trained Procurement Committee
Has an Annual Procurement Plan

Reporting and Compliance
Submits Annual Report to the Responsible Minister by July 31^st of the present year
Has an Annual Board-Approved Corporate Plan (must include strategic objectives, budget and work plan) by October 31^st of the present year
Ensures Annual Report is tabled in Parliament no later than July 31^st
Ensures Responsible Minister issues Statement of Corporate Expectation to the Board
Ensures the Chair and Responsible Minister meet at least twice yearly to discuss Agency performance and emerging issues

Ethics and Behaviour
Has a Corporate Social Responsibility Framework including a Donations Policy
Has a Code of Ethics with conflict-of-interest provisions
Ensures staff is trained in the Code of Ethics
Has a Whistle Blowing Policy
Has an Enterprise Risk Management Policy

Indicator groups:

Board
Governance
Controls
Reporting
Ethics

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