32 illegal micro-lenders reported after tip-offs by the public

THIRTY-TWO illegal micro-lenders were reported during the course of last year.

The Namibia Financial Institutions Supervisory Authority (Namfisa) launched investigations after having received tips-off from members of the public. Namfisa’s Manager for Micro-Lending and Credit Agreement, Rachelle Metzer, told Nampa on Thursday that out of the 32 illegal lenders, four registered after being reported, six ceased operations, two are still untraceable, four were unfairly reported while three are still under investigation.Metzler said investigations were still needed into other three Windhoek-based illegal lenders who are civil servants.Additionally, investigation teams are still to be dispatched to other towns to investigate 10 illegal lenders reported there.According to her, the illegal lenders under investigation were reported in various towns such as Otjiwarongo, Rosh Pinah, Khorixas, Walvis Bay, Windhoek and Katima Mulilo.Metzler warned the public not to borrow money from any micro-lenders not registered with Namfisa.-NampaNamfisa’s Manager for Micro-Lending and Credit Agreement, Rachelle Metzer, told Nampa on Thursday that out of the 32 illegal lenders, four registered after being reported, six ceased operations, two are still untraceable, four were unfairly reported while three are still under investigation.Metzler said investigations were still needed into other three Windhoek-based illegal lenders who are civil servants.Additionally, investigation teams are still to be dispatched to other towns to investigate 10 illegal lenders reported there.According to her, the illegal lenders under investigation were reported in various towns such as Otjiwarongo, Rosh Pinah, Khorixas, Walvis Bay, Windhoek and Katima Mulilo.Metzler warned the public not to borrow money from any micro-lenders not registered with Namfisa.-Nampa