Making A Better World

🏦 What You Need to Know Before Taking a Bank Loan in Namibia

When taking out a bank loan in Namibia, it’s essential to protect yourself by asking the right questions — and understanding your legal rights as a borrower. While banks and micro-lenders must follow certain regulations, it’s ultimately your responsibility to make an informed decision. Here’s what you should know before signing that loan agreement.

🔍 1. Ask These 10 Questions Before Signing a Loan

Whether you’re borrowing from a commercial bank, a microlender, or a cooperative, ask the following:

What is the loan amount?
Know exactly how much you’re borrowing — not just what’s deposited in your account after deductions.
What is the loan term?
Understand how long it will take to repay the loan, and when it ends.
What is the interest rate?
In Namibia, interest rates on loans are governed by the Usury Act 73 of 1968, which limits how much can be charged. Check whether the interest is simple or compound.
What are the additional fees?
These may include administration fees, processing fees, or monthly service charges. They must be disclosed up front according to the Bank of Namibia’s guidelines.
Is insurance required?
Some lenders may require credit life insurance to cover your loan in case of death or disability. Ask if this is optional or mandatory — and compare the premium cost.
What is the monthly repayment?
Can you afford the payment consistently? Use a loan calculator to test different scenarios.
What is the repayment frequency?
Most Namibian loans are repaid monthly, but some short-term loans may require weekly or even daily payments.
Is collateral required?
For larger loans, especially from banks, you may need to pledge collateral (like a car or house). If you default, the lender can seize it.
What happens if I pay late?
Late payments may incur penalties or increased interest. Understand the cost of missing even one payment.
What happens if I stop paying altogether?
You could lose your collateral, be blacklisted by the Namibia Credit and Borrowers Association (NCBA), and have your name listed with the credit bureaus.

⚖️ 2. Know Your Legal Rights as a Borrower in Namibia

Namibia’s credit market is regulated by several laws and guidelines designed to protect consumers. Here are the key legal frameworks:

📘 The Usury Act 73 of 1968 (as amended)

Limits the maximum interest rate a lender can charge.
Also regulates incidental credit (e.g. store cards and overdrafts).
The Bank of Namibia publishes the reference rate used to calculate the max allowable interest rate.

📘 Credit Agreements Act 75 of 1980

Governs hire purchase and installment agreements (like buying furniture or vehicles on credit).
Requires written contracts with clear repayment terms.

📘 Micro-lending Regulations (2018) under the Banking Institutions Act

All microlenders in Namibia must be registered with the Bank of Namibia.
They are required to:
- Disclose all loan terms in writing.
- Explain the interest rate and all associated charges.
- Provide you with a loan statement.
- Cap interest and fees according to BoN regulations.

⚠️ What This Means for You:

Verbal agreements are not enough — get everything in writing.
Don’t borrow from unregistered lenders — they often charge illegal rates.
Check the fine print — fees, penalties, and default clauses must be clear.

You can check if your lender is registered by visiting www.bon.com.na or calling the Bank of Namibia directly.

💳 3. Namibia’s Three Registered Credit Bureaus

As of 2025, Namibia has three officially registered credit bureaus that collect and manage consumer credit data. These institutions track your borrowing behavior and are used by banks and lenders to assess your creditworthiness:

TransUnion Namibia
– Offers detailed consumer and business credit reports.
– Internationally affiliated and widely used by commercial banks.
– Website: www.transunion.co.za
Compuscan Namibia (part of Experian Africa)
– Provides services to microlenders, retailers, and credit providers.
– Offers credit scoring and analytics.
– Website: www.compuscan.co.za
CreditInfo Namibia
– A global credit bureau with presence in over 30 countries.
– Focuses on inclusion and advanced borrower data tools.
– Website: www.creditinfo.com

✅ Your rights as a borrower:

You are entitled to one free credit report per year from each bureau.
You have the right to dispute incorrect information.
A good credit record helps you get better loan terms and lower interest rates.

🔄 4. Building Trust With Your Bank Pays Off

One of the best strategies for long-term financial success is to build a positive credit history. If you borrow responsibly and repay on time:

Banks may offer you lower interest rates in the future.
You’ll qualify for larger loan amounts.
You’ll receive fewer administrative hurdles when applying.

📌 Final Advice

Taking a loan is a serious commitment. The bank or lender expects you to repay — with interest — and you should expect transparency, fairness, and respect in return.

Always:

Ask for a complete breakdown of costs.
Never sign under pressure.
Say no if you feel uncomfortable or unsure.

How Colonial Debt Stole Namibia’s Land

When we hear the word credit, we might think of getting a loan, swiping a card, or buying something now and paying for it later. But credit can also mean recognition, as in the “credits” at the end of a movie. It’s even used to describe someone’s reputation—being a person of good credit.

In everyday life, however, credit usually refers to money we borrow to buy things we can’t pay for immediately: homes, cars, clothes, or even groceries. While credit can help us access what we need, it can also become a trap. In Namibia, the growing burden of personal debt has become one of our biggest socio-economic challenges.

But credit is not new to Namibia. In fact, it has deep and troubling roots in our colonial history. By looking back, we can begin to understand how credit shaped — and often distorted — our country’s economy and society.

Credit Under Colonial Rule: 1840s–1904

The use of credit in Namibia began to grow in the 1840s, during a time of increasing European trade activity. But instead of empowering local communities, the system of credit quickly became a tool that undermined traditional economies and increased dependency.

One of the earliest recorded incidents involves Jonker Afrikaner, a prominent leader in central Namibia. He reportedly fell into deep debt with a trader named Morris. According to historical speculation, Jonker’s military raid on the Ovambanderu in 1846 may have been influenced by pressure from Morris to repay those debts.

By the late 1890s, even the German colonial administration recognized how bad the situation had become. In response, they passed a regulation stating that no one could be sued for unpaid credit. However, this regulation didn’t last. Business pressure was too strong, and the rule was suspended on 22 February 1899.

Another major figure, Samuel Maharero, found himself overwhelmed by expectations from traders. They not only pressured him to settle his own debts but also expected him to guarantee those of his people. Traders like Gustav Voigts, Fritz Wecke, Ludwig Conradt, and John William Wallace began accepting land as repayment — effectively transferring indigenous land into colonial hands.

The sale of land to pay off debts sparked fierce criticism, even from missionaries like Diehl and Viehe. They condemned the sale of areas like Okakango (north of Okahandja), which Samuel Maharero used to settle his debts.

To protect Samuel from further pressure, the District Chief of Okahandja, Zǘrn, made an important declaration: while Samuel still owed money himself, he could not be held responsible for others’ debts.

The Rise of Land Dispossession Through Debt

As trading on credit became widespread, it led to a much bigger issue: the loss of indigenous land. This clashed with the colonial government’s goal of creating a settler colony where land was the most valuable asset.

In 1903, the German government set up a Credit Commission to investigate how debt collection from indigenous people should be handled. Later that year, Governor Theodor Leutwein issued a proclamation that introduced strict new credit regulations. These rules aimed to prevent communal (or “tribal”) land from being sold to pay debts.

However, anticipating that the new rules would limit their power to collect debts, many traders rushed to enforce even harsher collection methods before the law took effect.

Debt, Resistance, and the Ovaherero Uprising

By early 1904, tensions were rising. Chief David Kambazembi met with trader Gustav Sonnenberg to discuss the mounting debts of the Ovaherero people. The community’s economic freedom was disappearing, and so was their land. The situation had become explosive.

The famous Ovaherero uprising of 1904 had multiple causes: land dispossession, indebtedness, exploitative lending, the sale of alcohol, rape, and threats to leaders like Samuel Maharero. It was a boiling point created by years of unjust financial and political systems.

The Legacy of Colonial Credit Practices

Looking back, it’s clear that colonial financial practices were designed to exclude Namibians from economic participation. Credit was not a tool for empowerment, but a weapon of control.

Today, as Namibia continues to fight poverty, inequality, and rising debt, we must learn from this history. The dream of independence is not just political — it is economic too. Our financial systems, credit institutions, and consumer protections must serve the people, not exploit them.

Only when every Namibian has fair access to economic opportunity can we truly say we are free in the Land of the Brave.

Want to learn more?

Follow this blog for insights on consumer protection, financial education, and practical tools to escape the debt trap.

The Secret of Sole Water: A Mineral Boost with Rock Salt

Could the secret to better hydration be hiding in a simple mix of salt and water?

For centuries, cultures around the world have used natural salts not just for flavor, but for healing. One of the most popular modern rediscoveries is Sole water—a concentrated solution of mineral-rich salt and water, believed to offer a range of health benefits. And yes, Namibians can make it too—right at home.

🧂 What Is Sole Water?

Sole (pronounced so-lay) is water that has been fully saturated with unrefined natural salt—often Himalayan pink salt, but Namibian rock salt works too. Once the salt no longer dissolves, it means the water has absorbed as many minerals as possible—creating a mineral infusion ready to boost your daily routine.

🧪 How to Make Sole Water at Home

Ingredients:

1/4 cup natural rock salt (e.g., Ohorongo Salt or Himalayan pink salt)
Filtered or spring water
A clean glass jar with a non-metal lid

Steps:

Fill the jar one-quarter with the salt.
Top up with water until full.
Cover and let it sit for 12–24 hours.
If there’s undissolved salt at the bottom after 24 hours, your solution is saturated and ready.
Each morning, mix 1 teaspoon of sole water into a glass of water and drink on an empty stomach.

✅ Why People Drink Sole Water

Sole water fans say it:

Replenishes electrolytes naturally
Aids in digestion
Supports adrenal function
Helps with hydration, especially in hot Namibian climates
May reduce muscle cramps
Could assist in balancing the body’s pH

⚠️ A Word of Caution

Sole water is not for everyone. If you have high blood pressure, kidney disease, or are on a low-sodium diet, consult your doctor before trying it.

And remember: moderation is key. You only need a teaspoon of sole mixed with a full glass of water—this is not something to gulp in large quantities.

🇳🇦 A Local Touch: Namibian Rock Salt

Namibia is rich in mineral resources, and some local salt producers, like Swakopmund Salt, offer high-purity rock salt that could be a local substitute for imported varieties.

So before you go shopping for fancy Himalayan salt, take a closer look at what’s available right here at home. You might be supporting local business and natural wellness all at once. (HINT: Try your local AGRA, they have blocks that sometimes breaks off pieces ;-)

Try making your own sole water and see how your body feels. In a world of synthetic supplements, sometimes nature has the simplest answers.

Have you tried sole water? Let me know your experience in the comments!

Infrastructure Sharing: A Hidden Key to Fair Telecom Services in Namibia

When Namibians talk about telecommunications—be it expensive data bundles, patchy rural coverage, or dropped calls—the focus often turns to the visible issues: prices, customer service, and limited choices. But beneath these frustrations lies a less-visible, highly technical issue that could unlock a better telecom experience for all: infrastructure sharing.

For many, this may sound like industry jargon. But make no mistake—infrastructure sharing regulations, if implemented and enforced properly, could dramatically transform Namibia’s telecom landscape for the better. More importantly, it would finally begin to address the persistent inequality faced by consumers in accessing affordable, reliable, and high-quality digital services.

What Is Infrastructure Sharing?

In simple terms, infrastructure sharing is about requiring dominant telecommunications companies to let other operators use parts of their physical networks—from towers and ducts to base stations and antennas. Think of it like multiple bus companies using the same bus stop or several grocery stores sharing a delivery truck.

There are two main types:

Passive sharing: The physical things—like towers, fibre ducts, or power systems.
Active sharing: The more sensitive stuff—like antennas, spectrum, and the electronics that drive mobile coverage.

Namibia’s Infrastructure Sharing Regulations, passed in 2016 under the Communications Act of 2009, mandate that dominant players like MTC and Telecom Namibia must open up their infrastructure to competitors. These rules require that requests for access must be responded to within 30 days, negotiations must conclude in 60 days, and all terms must be fair and non-discriminatory.

On paper, this sounds like a win for consumers and competitors alike.

Where Things Stand in Namibia

Unfortunately, implementation has fallen far short of intention.

While some progress has been made in passive sharing—such as tower co-location—the critical issue of active sharingremains largely ignored or resisted. For example, MTC has resisted several directives by the Communications Regulatory Authority of Namibia (CRAN) to share infrastructure, citing “quality concerns” and “capacity constraints.” This resistance is not only unfortunate; it is harmful to consumers.

Let us be clear: when dominant telecom operators refuse to share infrastructure, they lock out competition. And when competition is locked out, prices remain high, quality stagnates, and rural areas are neglected.

Namibia already has some of the highest mobile data prices in Southern Africa.

The Cost of Limited Competition: How Namibia Compares

The impact of this resistance to infrastructure sharing is reflected in Namibia's mobile data pricing. Recent data reveals that Namibian consumers pay significantly more for mobile data than their regional counterparts:

Namibia charges consumers an average of $1.20 per gigabyte, according to 2023 data
This places Namibia among the most expensive countries in Southern Africa for mobile data
By comparison, regional neighbors charge considerably less: Zimbabwe ($1.30), Zambia ($1.45), and Lesotho ($4.09 for some studies, though other data suggests much lower rates)
South Africa, despite its larger economy, charges consumers an average of $2.06 per gigabyte
The regional average across Southern Africa is approximately $1.46 per gigabyte

These pricing disparities are not coincidental—they reflect market structures where limited competition allows dominant players to maintain high prices. Countries with more competitive markets and effective infrastructure sharing policies consistently deliver lower prices to consumers.

Rural and peri-urban communities are left behind, and new entrants cannot afford to build redundant infrastructure alongside giants who already dominate the space.

How Other Countries Are Getting It Right

Namibia is not the only country trying to improve digital access and telecom affordability. But unlike some of our peers, we are falling behind.

In Kenya, both passive and active infrastructure sharing are strictly enforced. Operators share base stations and even radio access networks, and the result has been a dramatic reduction in data prices and significant rural 4G coverage.

In Tanzania, the government operates a National ICT Backbone that all telecoms must use—promoting fair access and avoiding wasteful duplication. This has enabled wide coverage and competitive pricing.

Even South Africa, despite some legal hiccups, mandates passive sharing and is pushing toward more inclusive wholesale access.

These countries recognise what we in Namibia must not ignore: telecom infrastructure is not just a commercial asset; it is a public good.

The Consumer’s Perspective

From a consumer protection standpoint, the issue is crystal clear. If infrastructure sharing can lower entry costs for new telecoms, it increases competition. If competition increases, prices fall and services improve. And if those services reach beyond the cities, we close the digital divide that continues to hold back our rural communities.

This is not just a regulatory concern—it is a matter of economic justice.

For over a decade, I have advocated for stronger consumer protections in the telecom space: local number portability, transparent billing, and fair contracts. Infrastructure sharing fits squarely into this advocacy. It is a structural fix to a systemic imbalance.

We cannot keep allowing two or three companies to control the means of digital access for an entire nation.

What Needs to Happen

It is time for CRAN to enforce existing regulations more aggressively, including imposing penalties for non-compliance. The Namibia Competition Commission must also investigate the anti-competitive implications of refusal to share critical infrastructure.

Parliament, too, should take an interest—particularly as the country prepares for broader digital transformation under Vision 2030 and the Harambee Prosperity Plan II.

Finally, we need greater public awareness. Consumers should demand to know why data costs remain high and rural areas remain underserved, and they must understand that infrastructure sharing is part of the solution.

A Call for Transparency and Fairness

Namibia deserves a telecom environment where affordability, choice, and quality are the norm—not the exception. Infrastructure sharing is not just about cables and towers—it’s about fairness, access, and dignity in the digital age.

Let us hold our telecom providers, regulators, and policymakers accountable—not just for service, but for sharing the very foundations of that service.

Bridging the Gap: How Namibia is Tackling Income Inequality

Namibia is one of the most beautiful and resource-rich countries in Africa. But behind our proud landscapes and wildlife lies a serious issue: income inequality. Some Namibians live in comfort, while many others struggle to access basic needs like food, housing, and healthcare.

So, what is Namibia doing about this gap between the rich and the poor—and what more can we learn from other countries?

🧓 1. Social Grants: A Lifeline for Many

The Namibian government supports thousands of families through monthly grants:

Old Age Pension (N$1,400 per month)
Child Maintenance Grants
Disability Grants

These programs make a big difference in rural and low-income communities. For many, this money means the ability to buy food, pay school fees, or visit a clinic.

What could improve? Increase the grant amounts as the cost of living rises, and ensure everyone who qualifies can access them without red tape.

📚 2. Free Education for All

Namibia offers free primary and secondary education, and school feeding programs keep learners in class.

But we still face:

Overcrowded classrooms
Shortage of qualified teachers
Gaps in rural education quality

A solution? Invest more in vocational training and support for learners with disabilities or those in remote areas.

🏠 3. Land Reform and Housing: Still a Long Road

Namibia has tried to correct historical injustices through land reform and mass housing projects. However, progress has been slow, and many Namibians still live in shacks without water or electricity.

We need to:

Make housing truly affordable
Speed up land delivery
Prevent corruption and favouritism in housing allocation

👷 4. Minimum Wages and Worker Protection

Some sectors (like agriculture, security, and domestic work) now have minimum wage laws, helping to raise incomes for workers.

But many Namibians work in the informal sector—like market stalls, taxis, or odd jobs—where they have no protections at all.

We should:

Extend legal protections to informal workers
Provide skills training and micro-loans for small business owners

💉 5. Public Health for the People

Namibia’s public hospitals and clinics provide low-cost or free care, which helps poor families avoid high medical bills.

But the system still struggles with:

Staff shortages
Long wait times
Unequal access in remote areas

Expanding healthcare and digital tools like e-health could improve services for all.

📊 What Can Namibia Learn from Others?

Many countries face inequality, but some are making real progress:

Brazil uses large-scale cash transfer programs to reduce extreme poverty.
Finland and South Korea invest heavily in equal, high-quality education.
Rwanda supports rural income generation through infrastructure and microfinance.

Namibia can adopt similar ideas, including:

Progressive taxes on the wealthy to fund services for the poor
Better public transport, which helps people access jobs and markets
Gender pay equality and support for working mothers

✊ The Way Forward: A Fairer Namibia for All

Fighting income inequality isn’t just a government issue—it’s a national one. Businesses, communities, and individuals all have a role to play in building a fairer, more inclusive Namibia.

With the right mix of smart policy, honest leadership, and grassroots support, we can bridge the gap—and build a Namibia where everyone has a fair chance to succeed.

What do you think Namibia should focus on most? Join the conversation in the comments below.

The Missing Safety Net: Why Namibia Desperately Needs Debt Counselling Legislation

In the bustling streets of Windhoek and across rural Namibia, thousands of consumers are drowning in debt with nowhere to turn for professional help. While our southern neighbour South Africa has comprehensive debt counselling frameworks that have helped millions of over-indebted consumers, Namibia remains stuck in a regulatory time warp, relying on colonial-era legislation that offers little protection to vulnerable borrowers.

The Stark Reality: A Legislative Vacuum

Since independence in 1990, Namibia has made remarkable strides in many areas, yet consumer debt protection remains anchored in the past. Our primary consumer credit laws—the Usury Act of 1968 and the Credit Agreements Act of 1980—were inherited from South Africa's apartheid-era legislation. These outdated laws contain virtually no provisions for debt counselling, leaving Namibian consumers without the professional debt relief mechanisms that have become standard practice globally.

This legislative vacuum is particularly troubling given Namibia's economic challenges. With unemployment rates persistently high and cost of living pressures mounting, many Namibians find themselves trapped in cycles of over-indebtedness. Without regulated debt counselling services, these consumers have few options beyond informal arrangements with creditors or, in worst cases, asset repossession and legal action.

What Debt Counselling Could Offer Namibians

Debt counselling, when properly regulated, provides a lifeline for over-indebted consumers. The process typically involves:

Professional Assessment: Trained debt counsellors evaluate a consumer's financial situation, distinguishing between temporary cash flow problems and genuine over-indebtedness that requires intervention.

Negotiated Relief: Counsellors work with creditors to restructure payment terms, reduce interest rates, or consolidate debts into manageable monthly payments that align with the consumer's actual income.

Legal Protection: During the counselling process, consumers receive protection from legal action by creditors, preventing hasty repossessions and giving families breathing room to stabilize their finances.

Financial Education: Beyond immediate relief, debt counselling includes financial literacy training to help consumers avoid future debt traps.

Learning from South Africa's Success

South Africa's National Credit Act, implemented in 2007, demonstrates what comprehensive debt counselling legislation can achieve. The Act established:

Professional Standards: Debt counsellors must be registered with the National Credit Regulator and meet specific qualification requirements
Fee Regulation: Counselling fees are strictly regulated to prevent exploitation of vulnerable consumers
Legal Framework: Clear procedures for debt review applications and creditor negotiations
Consumer Protection: Strong safeguards against predatory lending and abusive debt collection practices

The results speak for themselves. Since 2007, hundreds of thousands of South African consumers have successfully navigated debt review processes, with many emerging debt-free and financially rehabilitated.

The Cost of Inaction

Namibia's failure to modernise debt counselling legislation carries significant economic and social costs:

Individual Impact: Families lose homes and assets that could have been saved through proper debt restructuring. The absence of professional debt counselling often leads to informal "loan sharks" filling the void, creating even more exploitative lending relationships.

Economic Efficiency: Without proper debt resolution mechanisms, the economy suffers from reduced consumer spending power and higher rates of bad debt that ultimately increase borrowing costs for everyone.

Social Stability: Over-indebtedness contributes to family breakdown, mental health challenges, and social unrest—problems that effective debt counselling can help mitigate.

A Glimmer of Hope: The Consumer Credit Bill

The Namibian Financial Institutions Supervisory Authority (NAMFISA) has been developing a comprehensive Consumer Credit Bill that promises to revolutionize consumer protection in Namibia. This bill represents the most significant reform of consumer credit legislation since independence and may finally introduce proper debt counselling frameworks.

The proposed legislation aims to repeal the outdated Usury Act and Credit Agreements Act, replacing them with modern consumer protection mechanisms. While the full details of debt counselling provisions remain to be seen, the bill's emphasis on "fair and transparent rules within the consumer credit market" suggests that debt counselling could finally receive the attention it deserves.

What Namibians Deserve

As the Consumer Credit Bill moves through the legislative process, policymakers must ensure that debt counselling receives comprehensive treatment. Namibian consumers deserve:

Professional Standards: A regulated profession with proper training requirements and ethical guidelines Accessible Services: Affordable debt counselling available in both urban and rural areas Legal Protection: Clear procedures that protect consumers from creditor harassment during debt review Cultural Sensitivity: Services that understand Namibia's unique economic and cultural context

The Path Forward

The introduction of proper debt counselling legislation won't solve Namibia's economic challenges overnight, but it would provide crucial consumer protection infrastructure for the future. As we await the Consumer Credit Bill's passage, civil society organizations, consumer advocacy groups, and financial institutions should collaborate to raise awareness about the importance of debt counselling.

Financial literacy programs should be expanded to help consumers understand their rights and options. Legal aid organizations should prepare to support consumers navigating new debt counselling procedures. And the banking sector should view debt counselling not as a threat to profitability, but as a tool for creating sustainable lending relationships.

Conclusion: No More Waiting

For too long, Namibian consumers have been left to face debt crises alone, armed only with colonial-era laws that offer little protection in today's complex financial landscape. The time for half-measures and delays has passed.

As our legislators consider the Consumer Credit Bill, they hold the power to transform the lives of countless Namibian families. Comprehensive debt counselling legislation isn't just about financial regulation—it's about human dignity, economic justice, and building a more equitable society where temporary financial setbacks don't become permanent life sentences.

The question isn't whether Namibia can afford to implement proper debt counselling legislation. The question is whether we can afford not to.

The author advocates for comprehensive consumer protection reforms and writes on financial inclusion issues in Southern Africa.

How Namibia’s Laws Have Changed to Protect You from Bad Credit Deals (1990–2025)

Why Should You Care?

If you’ve ever taken a loan, bought a car on instalment, or borrowed money from a micro-lender, you’ve been affected by consumer credit laws. These laws are designed to make sure lenders don’t rip you off—and Namibia’s have come a long way since independence.

Here’s a breakdown of how consumer credit protection in Namibia has evolved, what it means for you, and what’s coming next.

The Old Rules We Inherited

Before Independence (Pre-1990):

Namibia used laws from South Africa. Back then, we were under South African rule, and they applied their laws in South West Africa (what Namibia was called before independence).

Two main laws controlled consumer credit (i.e., loans and borrowing):

Usury Act of 1968
- What it did: Set limits on how much interest lenders could charge.
- Why it mattered: It stopped lenders from charging ridiculously high rates.
- Still used after independence? Yes.
Credit Agreements Act of 1980
- What it did: Controlled how credit agreements (like buying things on hire purchase) should work.
- Still used after independence? Yes, for decades.

These laws were never really designed for Namibia’s unique financial situation, but we used them anyway for more than 30 years after 1990.

Namibia Starts Making Its Own Laws

2018 – The Microlending Act

Why it’s important: This was Namibia’s first homegrown law for small loans, especially those given by microlenders (think cash loans and short-term lending).
What it aimed to fix: Some micro-lenders were operating without clear rules, and people were getting stuck in cycles of debt.

Who’s Watching the Lenders?

NAMFISA – Namibia Financial Institutions Supervisory Authority

What they do: They’re like the watchdog of the financial sector.
Why they matter: They make sure banks, insurers, microlenders, and now even debt collectors follow the rules.
Main goal: Protect you, the consumer.

Big Changes Happening Now (2020–2025)

2020 – Consumer Credit Policy

What’s that? A policy that identifies problems in the old laws and sets the direction for new ones.
What it looks at: How to fill the gaps, regulate lenders better, and protect borrowers.

2023–2025 – Drafting the New Consumer Credit Bill

This is the most important change coming soon. It’s still being finalized after public consultations.

The new Consumer Credit Bill plans to:

Replace the old laws (Usury Act 1968, Credit Agreements Act 1980, Microlending Act 2018).
Regulate debt collectors for the first time in Namibia.
Create fair rules so borrowers understand the real cost of loans.
Introduce debt counselling to help people who are overwhelmed by debt.

What Is “Debt Counselling”?

It’s when trained professionals help you manage your debt. They can:

Negotiate better repayment terms with lenders
Help you avoid losing your assets
Offer financial advice

Timeline of Namibia’s Credit Law Journey

Year	Key Event
1990	Independence – inherited credit laws from South Africa
2018	Microlending Act introduced to control small loan lenders
2020	Government starts writing a full Consumer Credit Policy
2023–2025	Drafting and consultation for the Consumer Credit Bill

What Does This All Mean for You?

If you’re a young adult in Namibia trying to borrow money, buy a car, or use credit in any way, the new laws aim to:

Protect you from predatory lenders
Ensure you understand your credit terms
Give you support if you’re drowning in debt

The Consumer Credit Bill, once passed, will be a major step toward a fairer financial system in Namibia. It’s about time we moved on from laws made for another country over 50 years ago.

Let’s Talk:

Have you ever had a bad experience with a lender or been confused by loan terms? Share your story in the comments, or message me—we’re all learning how to navigate Namibia’s financial system better.