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The Namibian Home PageFri 31 Oct 2014, 20:26Last update: 31 Oct 2014
News    Opinions    Sport    Business    Entertainment    Oshiwambo    Archive    Top Revs    Letters   
News    Opinions    Sport    Business    Entertainment    Oshiwambo    Archive    Top Revs    Letters   

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The Namibian
Fri 31 Oct 2014
 MINISTER of Justice Utoni Nujoma, when will justice take its course in the 'pit latrine corruption case'? Until when will the big fish be protected?
 A TRUE leader is a person like Jonas Savimbi. He was killed alongside his people in the front line of the battlefield. That is what I call a true hero.
 PRESIDENT Hifikepunye Pohamba, could you please tell us when the road from Oshikango to Ondobe in the Oshikango constituency will be tarred?
 NO communication, no democracy. No unity, no love but only hate, victimisation, favouritism and hypocrisy at AI Steenkamp Primary School. Education Minister, please intervene.
 WHY is the Streethouse sale not applicable to the Otjiwarongo branch?
 MTC, please correct your clock, it is six minutes ahead. Many cellphones take their time from you.
POLL
Should presidential candidates have public debates before the elections?

1. Yes, it will help us make up our minds.

2. No, it will have no effect on the outcome.

3. Maybe, but will Swapo agree this time?

4. No one cares!


Results so far:
 Older Polls



FRONT PAGE | 2011-10-07
Banks Commit 'Daylight Robbery'
ALLOW me to give information on how the private lending institutions are ripping off our hard earned money. A typical real loan of N$9000 (nine thousand dollars) taken at a commercial bank reveals the following:
Cash amount received: N$9000.00
Stamp duties     11.00
Namfisa    90.00
Credit life insurance    1628.64
Bank admin fees    180.00
Administration fees 540.00
Finance charges 15.05%    2849.20
Total     14 298.84
The above total loan of N$9000.00 amounted to N$14298.84 and was repaid from February 2011 till January 2014, in 36 months (i.e. 3 years) for N$397.19 each month. As if the charges are not enough, the bank adds 2% of the instalment plus VAT of N$9.14 (this amount is paid to the administrator of the government payroll deduction system).
The new total deduction will be N$406.33 per month for 3 years.
In terms of the contract, you the borrower, will be punished for paying off the loan early. Is this really legal?
How can I be punished when I am willing to pay sooner? I thought that it makes common sense since I will not be owing until 2014. But no, to the banks it does not make economic sense.
This is daylight robbery, hence the change to the old Usury Act still been used in Namibia is needed.

F X Shikongo
By e-mail

         


Electoral Commission of Namibia
IJG Daily Bulletin

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