馃嚦馃嚘NamibiaSouthern Africa
Namibia's housing crisis: reforming credit rules to improve homeownership access
via The Namibian2 min read
Namibia faces a significant housing crisis, partly due to financial regulations that apply a universal affordability rule to both appreciating and depreciating assets. Commercial banks and the Namibia Financial Institutions Supervisory Authority currently cap monthly debt repayments at 30% to 33% of gross income. This blanket limit, while intended to protect consumers, hinders access to homeownership. A house is an appreciating asset that builds generational wealth, whereas a vehicle is a depreciating asset with additional costs. However, the current system treats a N$9,000 repayment on a luxury vehicle the same as a N$9,000 repayment for a primary home. This artificial symmetry means many creditworthy Namibians are locked out of the property market, often paying more than 30% of their income in rent without building equity. While the Bank of Namibia has allowed 100% financing for first- and second-home purchases, the rigid monthly affordability cap remains a barrier. To address this, Namibia needs amendments to the Banking Institutions Act and the Credit Agreements Act. Regulators should adopt asymmetric debt-to-income limits, capping vehicle finance lower around 20% to 25% of gross income to discourage excessive borrowing on depreciating assets. The room created could then be redirected to housing, allowing a tiered and more flexible housing allocation of up to 40% or 45% of gross income, especially for first-time buyers and middle-income earners. Banks should also incorpor
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This summary was AI-generated from a story originally published by The Namibian.
The Namibian Welwitschias are set to play Zambia in an international rugby friendly at the Hage Geingob Rugby Stadium on Sunday, marking their first international match of the year. This game signifies a new chapter for Namibia after missing out on the 2027 Rugby World Cup, the first time since 1999. The team is now focused on qualifying for the 2031 World Cup. Former Kenya and Western Province coach Jerome Paarwater has joined the Namibia Rugby Union, and a largely local-based squad has been preparing for the match against Zambia and an upcoming encounter with the Blue Bulls on July 11. Darryl de la Harpe, the Welwitschias' backline and defence coach, stated that preparations are on track, with a focus on player depth and youth exposure. The team plans to give up to 40 players an opportunity to play on Sunday, starting with a strong lineup. While mostly local players will be featured, professional players like Prince !Gaoseb, Max Katjijeko, and Adriaan Booysen have returned and will be involved. De La Harpe anticipates a strong, physical challenge from Zambia, noting their recent competitive games against Zimbabwe. Despite the disappointment of missing the World Cup, De La Harpe expressed excitement about the future, highlighting the quality of current players, including promising youngsters, and the potential for the next World Cup qualifiers.
Must ReadA highly anticipated match between Kylian Mbappe and Erling Haaland is set to take place on Friday as France and Norway compete in a crucial Group I decider at the World Cup. Both Mbappe, a Real Madrid star, and Haaland, a Manchester City striker, have been in exceptional form, each scoring four goals in the tournament. The game, scheduled for 3:00 pm local time in Foxborough, will determine the top spot in the group. France, having defeated Senegal and Iraq, holds an advantage due to a superior goal difference, meaning a draw would secure them first place. Norway has also performed well, beating Iraq 4-1 and Senegal 3-2. Haaland, playing in his first World Cup, has expressed confidence despite considering France as tournament favorites. France's preparations have been affected by the departure of manager Didier Deschamps following his mother's death, with assistant coach Guy Stephan taking charge. A defeat for France could lead to a more challenging path in the knockout stages, potentially facing Ivory Coast in the last 32 and Brazil in the last 16. In other matches, Spain will play Uruguay in Group H, needing at least a draw to secure first place, while Cape Verde faces Saudi Arabia. In Group G, Egypt will play Iran in Seattle in a match designated as a "Pride Match," which has drawn objections from Iranian and Egyptian officials. Belgium will also play New Zealand in Group G.
The Netherlands defeated Tunisia 3-1 in Kansas City to finish as Group F winners in the World Cup. This victory allows them to avoid a last-32 match against Brazil and instead sets up a meeting with Morocco. The Dutch took an early two-goal lead due to Tunisian defensive errors, with Ellyes Skhiri scoring an own goal and Brian Brobbey adding another. Although Tunisia pulled a goal back in the second half through Hazem Mastouri, Jan Paul van Hecke restored the Netherlands' two-goal advantage. The Netherlands concluded their group fixtures with seven points, surpassing Japan, who drew 1-1 with Sweden. Coach Ronald Koeman emphasized the need to focus on their upcoming match against Morocco, acknowledging them as a strong team. Tunisia's coach Herve Renard, who was appointed last week, admitted his team was not at the required level for the World Cup after a campaign in which they conceded 12 goals in three games.