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The Namibian Home PageTue 25 Nov 2014, 22:36Last update: 25 Nov 2014
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News    Opinions    Sport    Business    Entertainment    Oshiwambo    Archive    Top Revs    Letters   

The Namibian
Tue 25 Nov 2014
 NANGOLO Mbumba was right to call us poor or commoners. Not everybody is a Swapo 'golden kid' and we do not have access to government tenders. Thank you for your honesty, Sir.
 THE PS of the Ministry of Works and Transport should not renew the contract of a certain ICAO expert because he is not of any help to the DCA of Namibia, especially the Air Traffic Services.
 WE Namibians need to think more deeply, we do not need to think like chickens. We must think before we vote.
 NANGOLO Mbumba, change your attitude. What kind of a narrow-minded leader are you? You cannot utter nonsense like clap your hands 'aafyoona nye' in front of the nation. Who are you trying to fool now?
 JOB Amupanda, we the youth from Omusati region, support you all the way and soon we will join you in fighting for land, housing and against unemployment. But first let us go and vote for comrade Hage Geingob.
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
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