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The Namibian
Fri 27 Feb 2015
 THE churches have the means to teach from a tender age at Sunday schools even before a child reaches kindergarden - the need to respect elders, maintain discipline, and foster and cement good mannerisms; they also deal with hunger, poverty issues and eve
 CITY of Windhoek, are you aware of the terrible rotten smell in Marula, Smarties and Wanaheda?. We have contracted endless flu like symptoms. Do you really care about our health or are you just happy to take our money? Please act!
 IF nannies get N$1 200 a month, how will single working mothers manage because by law you only get N$300 maintenance money from the father?
 I THINK it's about time that Namibia moves on from the claiming phase and start taking action. Big ups to Job Amupanda!
 NANGOLO Mbumba, shame on you! Leave Job Amupanda alone. He did not insult the nation like you did. Do you think we forgot what you said last year at the Sam Nujoma Stadium?
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:
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VACANCIES
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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

         


IJG Daily Bulletin

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