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The Namibian Home PageTue 30 Sep 2014, 12:08Last update: 30 Sep 2014
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News    Opinions    Sport    Business    Entertainment    Oshiwambo    Archive    Top Revs    Letters   
The Namibian
Tue 30 Sep 2014
 • ROAD accidents can be drastically reduced in many ways shown by Motor Vehicle Accident Fund and Roads Authority campaigns targeted at the drivers. Accidents can also be reduced by clear road markings to prevent lane departure.
 • NAMIBIAN government. Why do you allow Cabinet ministers to work when they are over 60 years, while government employees are told to retire at that age? That is very unfair, you only care about your own pockets.
 • MINISTER of Home Affairs and Immigration, we and our children do not have birth certificates in our own country. Your officers refuse to give us the documents although my mother and father are Namibians. It is our right to have all national documents.
 • IF I get straight As in Grade 10, I have a perfectly good chance of studying medicine in China and Utoni Nujoma will gladly opt for me to be his family doctor. No doubt.
 • INSPECTOR General Sebastian Ndeitunga, what do you think of police officers who joined the force in 1990 but are still just constables? Please do something to improve their morale.
 • The MUNICIPALITY of Swakopmund traffic department and Natis must stop advertising posts and then recruit friends and relatives who don't meet the requirements but are allowed to acquire the driving codes at a later stage.
POLL
In light of recent media reports, do you think the fisheries sector is in crisis?

1. No, it's just a media storm

2. Yes, sack the minister

3. Maybe, but do we have all the info yet?

4. Never! Namibians are getting empowered


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 (5.45MB)
IJG Daily Bulletin

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