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The Namibian Home PageFri 19 Dec 2014, 05:52Last update: 18 Dec 2014
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News    Opinions    Sport    Business    Entertainment    Oshiwambo    Archive    Top Revs    Letters   

The Namibian
Thu 18 Dec 2014
 THANKS City Police. I called you from Hochland Park and 40 minutes later you were there. There are no more criminals hiding in the riverbed behind my house. Keep it up.
 TIM Ekandjo and your team, can you please explain to us how much it costs per minute to use this N$2 data?
 UNAM, you seriously upset me. I cannot understand that the results came out on 12 December but I am yet to get mine. I am a 4th-year student and I want to know my results. Is Unam serious or is it all about revenue?
 CAN health minister Richard Kamwi please tell us whether or not student nurses are allowed to stay in the nurses' homes in Windhoek, especially at the Central Hospital. We are tired of being treated like nothing. We do not even get paid and yet we struggl
 TELECOM - Why does it take so long for Telecom Namibia to provide a service we are paying for! We have been waiting for over two months for a connection but nothing has materialised! Can I get my money back?
POLL
What are the biggest issues that Hage Geingob's administration would have to deal with?

1. Curbing corruption

2. Improving the quality of education and healthcare

3. Provide dignified housing for all

4. Create more jobs


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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