People can’t settle mortgage debt
- General News 2011
- Published Date
- Johanna Absolom
- Hits: 1191
Despite projections of economic growth, access to affordable housing remains a great challenge for Namibia with a number of people not paying off their mortgage debts.
Figures from First National Bank indicate that towards the end of 2011, the total individual mortgage loans which were outstanding for the whole financial sector were at N$18.5 billion.
“Representing 20% of gross domestic product (GDP) at the end of November 2011. These are the main lending instruments of banking institutions in Namibia,” said senior manager of research and development at FNB, Daniel Motinga.
Even though the economy is projected to grow (between 4% and 4.2% in 2012 based on the estimated 3.8 % GDP growth of 2011- according to the Development Bank of Namibia, consumers’ decision to walk away from settling debt usually leads to possible repossession of homes.
Criminals also love Christmas, stay alert!
- General News 2011
- Published Date
- Johanna Absolom
- Hits: 2288
City Police has warned Windhoek residents and members of the public to be more vigilant with home and personal safety during the festive season following spikes in burglaries, robberies and theft.
City Police Superintendent Gerry Shikesho also called upon visitors and the business community to take special precautions in order to avoid falling victim to crime.
To curb criminal activities, City Police has engaged members of the public on a sensitisation campaign which will assist Windhoek residents in detecting criminals.
It was noted that several robberies have taken place in recent weeks where mostly business people are targeted at banking time or after working hours.
Shikesho also appealed to the general business community to be vigilant of organised crimes by their employees and warned business owners not to keep large sum of cash at business premises, and further beware of credit and debit card fraudsters, shoplifting and arranged back door sales.
Waves at Kalahari
- General News 2011
- Published Date
- Waldo
- Hits: 2208
Control over the fabulously-rich Rössing South uranium deposit is again the motive behind a brewing controversy. Last week Friday, the owner of the EPL, Extract Resources through its local wholly owned subsidiary, Swakop Uranium, put out a statement saying the board of directors took note of an upstream offer for control in a rather obscure venture capital company, listed in London under the name Kalahari Minerals plc.
Kalahari Minerals plc is listed on the London Stock Exchange’s AIM board. Relative to its peers, it is a small company but its biggest attraction lies in its 43% stake in Australia’s Extract Resources. Since listed in 2007, Kalahari Minerals had an unspectacular share performance, trading small volumes of stock, usually between 900,000 and 2 million shares per day. However, last week Thursday, a day before the official announcement of an offer for at least 50% of Kalahari Minerals’ shares, trade for the day exploded with more than 45 million shares traded on the single day. The price also shot up to 242.5 pence. On 22 November, it still traded for 218 pence.
This movement in share price closely mirrored an announcement that a Chinese company listed in Hong Kong, Taurus Mineral Limited, has made an offer for the entire shareholding of Kalahari Minerals at a strike price of 243.55 pence. This announcement was quickly followed by an official announcement from Extract Resources, quoting much Australian stock exchange rules and regulations, but unambiguously stating the Extract board will act to maximise shareholder value for its own shareholders.
Value of building plans increase in November
- General News 2011
- Published Date
- Nyasha Francis Nyaunwa
- Hits: 1759
According to latest statistics from the City of Windhoek, the number and value of building plans approved during November increased compared to the previous month.
On a month-on-month basis, the number of plans approved, including walls and pools, increased from 221 in October to 248 in November. Excluding walls and pools, the total number approved was 212 an 8.2% increase than the previous month, but 27.9% lower than a year earlier.
The total value of approved plans in November was N$111 million, reflecting a 10.9% month-on-month increase and a 20.5% year-on-year decrease.
The monthly increase in the number of approved plans was due to increases in the “additions” and “commercial and industrial” categories, which were partially offset by a decline in the “flat and house” category.
On the other hand, the monthly increase in the value approved was due to an increase in the “commercial and industrial” category which was partially offset by decline in the “additions” and “flat and house” categories.
Don’t be a victim of card fraud during the festive season
- General News 2011
- Published Date
- Waldo
- Hits: 2205
With the December holidays already in full swing, Bank Windhoek has warned members of the public against card fraud, which normally escalates during this time of the year.
According to Ryan Geyser, senior manager of product channel development and electronic channel processing at the bank, the annual December holiday is a relaxing time for many people, but it is the busiest time for fraudsters, as card activity increases and people have more money available.
Furthermore, people on holiday are less cautious during this time of the year; not just on cards, but also with cash and internet banking.
“Card fraud does not just happen when your card is swiped and used at an ATM or merchant. Online or Internet transactions are also a major source of fraud.
Read more: Don’t be a victim of card fraud during the festive season
