Credit Reporting Agency for Namibia

*First posted on 23 June 2006*

SUBMISSION ON BANKING REGULATIONS VIS-À-VIS CREDIT PROVISION

The following is the submission made to the Parliamentary Standing Committee on Economics, Natural Resources and Public Administration. They held public hearings on bank charges and regulations on 14 July 2006 in Windhoek.

The banking system in Namibia is presently facing difficulties in their abilities to provide financing for individuals and business, especially small and medium enterprises (SME's). This problem is further influenced by the present level of non-performing debt being experienced in all sectors that provide credit. This poor performance on loans has led to many institutions having to recoup their losses, and provide themselves with profit, through high interests and "innovative" banking charges.

It is my opinion that this can be addressed through the increased usage of Information and Communication Technologies. As an example, I attach a paper on the need for credit bureau, and the establishment of an economic database to address this need. (if you wish a copy of the paper, please email me at miltonlouw@gmail.com)

Through the sharing of information between public and private sectors (with the appropriate legislation to prevent abuse), a reliable source of information can be provided which will necessitate the banking institutions to become more competitive to attract clientele. This clientele in turn will be able to negotiate for better rates, and lower charges, if they are aware of their own credit worthiness.

I remain at the convenience of the Committee to provide any further information they might require to encourage the necessary changes in legislation, as well as provide authority to the necessary public institutions, to implement a system to encourage the responsible growth of the credit sector.

Lastly, I must add that I believe such a credit agency, whether public or private, will only facilitate the provision of credit, and not provide moral influence on us as a society to ensure we keep our side of the bargain and keep up our financial obligations.

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Thought for the week:
"I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale" - Thomas Jefferson (American 3rd President)

Culling of Wildebeest applies to beer

This is not only philosophical but is obviously pure science.

A herd of wildebeest can move only as fast as the slowest wildebeest, and when the herd is hunted, it is the slowest and weakest ones at the back that are killed first.

This natural selection is good for the herd as a whole, because the general speed and health of the whole group keeps improving by the regular culling of the weakest members.

In much the same way the human brain can only operate as fast as the slowest brain cells. Excessive intake of alcohol, we all know, kills brain cells, but naturally it attacks the slowest and weakest brain cells first.

In this way regular consumption of beer eliminates the weaker brain cells, making the brain a faster and more efficient machine. So that's why you always feel smarter after a few beers.

Independence 2009 - reasons for registers

Hi, Milton here. Still at the farm, fortunate to have one of my daughters, Ziana, visit for the weekend.

Thought for the week:
“If you're respectful by habit,
constantly honoring the worthy,
four things increase:
long life, beauty,
happiness, strength.”-Buddha Quote


Enjoy Namibia's Independence Day!

Kind regards
Milton
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Someone asked, why a website with directories of people and business?

The idea of creating an economic country database started in 1994 while working with the United Nations Industrial Development Organisation in Paris, France. Since then I have collected over 11,000 businesses details and 250,000 people. Once the data is collected and cleaned, there are many areas for possible commercial use. However, it has till thus far only been used for research purposes when conducting surveys of the Small and Medium Enterprises for example.

The main aim is still to create a Central Register for Namibia that will include amongst others:
* Register of Residents;
* Register of Business;
* Register of Professions;
* Register of Property Ownership;
* Register of Licences for Natural Resources and Utilisation;
* Register of Trademarks, Patents and Copyright;
* Register of External Trade; and
* Register of other legal entities.

During the past ten years, I have managed to create registers for persons, business and external trade. This has assisted greatly in providing income opportunities for me in various areas in Research.

I would however like to make this information available to more people to see what opportunities might arise.

Lastly, I am preparing a database with much deeper individual information (not yet sure about privacy issues) to allow me to look at a credit assistance scheme that looks at "reputational collateral" rather than history of financial mistakes.

Namibian Family Tree

Hi, Milton here from the farm Okomitundu. I have visited the top of the Kudu Mountain, some 400 metres above the farmhouse (1,670m above sea-level). I was being interviewed for the television programme Green Horizons that should be broadcast on NBC TV on 26 March.

(Some people have asked for a picture of what the farm looks like, so have a look at www.okomitundu.com.)


This week I have finished loading 250,000 Namibians information listed by surname on to the Internet. This includes their name and surname, as well as their date of birth. See my article below and check if your details are online. You might be surprised how many of your relatives are on as well ;-).

Thought for the week:
"Call it a clan, call it a network, call it a tribe, call it a family. Whatever you call it, whoever you are, you need one." ~Jane Howard

Kind regards
Milton
Email: miltonlouw@gmail.com
website: www.nambiz.co.cc
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What is private?

How much of your data is on a computer? How much do companies, employers, the government, even enemies know about your life? Even more worrying, how much of this information is publicly available?

Since 1999, I have been proposing a central register for Namibia (http://milton-louw.blogspot.com/2009/03/central-register-for-namibia.html). This week I listed all people I have been able to collect information on, in a family tree type website. It is available at www.nambiz.co.cc. You enter the yellow pages section and will then have an alphabetical list. Choose the letter your surname starts with and a list of all surnames starting with that letter will appear. Choose your surname, and a listing of everyone with the same surname will appear. You will find their name as well as their date of birth (if it is in the system).

In my case, I checked my cousin, Merle Oosthuizen and found her birthday easily......

My hope is that after looking at the site you will consider the amount of information of yours that is already being stored someplace. I hope this will get your support for a data protection and privacy act being made law as soon as possible.

Remember, I am only one person and have been able to collect all this, what about those businesses who have a lot more data on you?

Email me with your comments: miltonlouw@gmail.com
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Never too old to learn

*First Posted: 5 January 2007*

Hi, Milton Louw here from Windhoek in this first month of 2007. I hope you have had a relaxing vacation (those of you who could afford to get away), and are ready for the challenges of 2007. May all you efforts be rewarded with the success you work for.

Now how about a New Years resolution to include improving yourself..........

This week, I cover

1. Thought for the week

2. Life Long Learning

The next week means for most of us the return (or start) of school for our children. If you can, take just five minutes each day and consider what they will become upon leaving school. Then, check to see if you are doing everything possible to make their dreams come true.

Enjoy the week,

Milton

Cell: +264 81 304 3282

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Thought for the week

We must encourage [each other] once we have grasped the basic points to interconnecting everything else on our own, to use memory to guide our original thinking, and to accept what someone else says as a starting point, a seed to be nourished and grow. For the correct analogy for the mind is not a vessel that needs filling but wood that needs igniting no more and then it motivates one towards originality and instills the desire for truth. Suppose someone were to go and ask his neighbors for fire and find a substantial blaze there, and just stay there continually warming himself: that is no different from someone who goes to someone else to get to some of his rationality, and fails to realize that he ought to ignite his own flame, his own intellect, but is happy to sit entranced by the lecture, and the words trigger only associative thinking and bring, as it were, only a flush to his cheeks and a glow to his limbs; but he has not dispelled or dispersed, in the warm light of philosophy, the internal dank gloom of his mind.

• Plutarch, On Listening to Lectures

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Life-Long Learning

Are you satisfied with what you have achieved in life? Do you want to climb the ladder of life even higher? Are you going to sit in an old age home at 60 and watch the world go by?

Today we recognise that finishing school or university is not the end of our learning experience. Think just about computers, cellular phones, etc and how much you have had to learn over the past decade to stay up to date with just having a life. How more so if you are in an ever changing working environment. This demands from you an approach where you take charge of your career, rather than the old-fashioned view that a career is what happens to you. Remember also, once you turn "60", it no longer means you have nothing to contribute to your society.

Take the challenge this year, and choose something new to learn. Here are a few examples:

• Another language - how many of us will be able to talk with our Chinese counterparts as they ever increasingly extend beyond their boundaries?
• A musical Instrument - even the drums can be learnt by those (like me) who say they cannot carry a tune
• Computer program - Project management is all the rage and it will take you less than four days to master a software package such as MS Project

This are but a few of the areas that I am exploring for 2007. Maybe you have other interests, maybe even a hobby such as origami or bonsai, just as long as you keep them brain cells working.

For interest sake, I typed in "life long learning" in the Google Search engine. I got back over 86,000,000 sites that cover this topic. So remember, even if you do not consider life long learning, there are many other (your probable competitors) who do. Have a look at this link for some great ideas, http://www.newhorizons.org/.

Remember, you are never too old to learn.