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The Namibian
Fri 21 Nov 2014
 WHO else can sacrifice his job for the poor? Only Job Amupanda.
 VIVA Amupanda. We, the youth, really appreciate your wisdom. You are a true hero.
 DILLISH has the means to buy a house. What about the low income groups who cannot afford houses? If you do not value what you have, you will not value anything.
 THE local government ministry did not put a moratorium on the sale of land on private treaty. Go to the ministry and get your facts straight and don't lie to readers and incite them unnecessarily.
 PEOPLE are confusing individual weaknesses with the Swapo Party. How can a party with mental bankruptcy keep winning elections overwhelmingly. Swapo is just great, vote for it and see more.
POLL
Are you going to vote in the upcoming National Assembly and Presidential elections?

1. Yes! It' my duty.

2. No! Swapo will win anyway.

3. Maybe, but I haven't decided who to vote for.

4. Hell no! I'm not into politics.


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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