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The Namibian Home PageTue 21 Oct 2014, 12:16Last update: 21 Oct 2014
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The Namibian
Mon 20 Oct 2014
 • IT seems when our government leaders make promises to the nation to build more schools, provide better medical facilities and create more jobs, etc, they delay those plans and at times brush them under the carpet that is lavishly laid out for them. But
 • SWAPO leaders, our Lord does not care much about the importance of your work as you are creating two Namibian countries. One is where your own children are assured of a better future while the other passes on poverty to the next generation.
 • HAPPY International White Cane Day! I would like to wish all visually impaired and those partially sighted a blessed day. Remember, even without sight there is vision. Let us keep on advocating our rights.
 • WHY does the government not appoint independent bodies to supervise tender boards? The tender boards are perceived to be corrupt and we don't know where to go. The relevant authorities must help us poor Namibians.
 • ONDANGWA Magistrate's Court, please familiarise yourself with court proceedings at other courts. Police officers are abusing people. One cannot even cross his or her legs or even lean against those hard chairs. Go to Windhoek or watch the Oscar Pistoriu
 • I, ELIFAS Shoombe Shaanika, lost a wallet with my personal documents in a taxi in Windhoek. If found, please contact me on 081 2167308 or 081 2984947.
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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