Renthia Kaimbi
Residents of a housing development project in Rundu say they have been paying mortgages since 2022 for houses that remain unfinished.
The affected homeowners secured bank pre-approvals for houses in the Kaisosi housing development owned by Chinese businesswoman Stina Wu.
Despite receiving financing approval two years ago, the residents say they have still not taken occupancy of their homes.
Social justice activist Michael Amushelelo said he received complaints from several affected homeowners.
According to Amushelelo, homeowners are paying monthly mortgage deductions while also paying rent elsewhere.
“It is rather painful to be paying for a house loan in which you have not yet taken occupancy and at the same time you must pay for rent,” Amushelelo said.
Residents reportedly raised the matter with the Rundu Town Council, the council’s chief executive officer and mayor, the governor of Kavango East and the urban and rural development minister James Sankwasa.
According to Amushelelo, the houses remain incomplete despite the complaints.
In response, Helmsman Group, the development company owned by Wu, acknowledged the frustrations of homeowners.
The company said it understands the emotional and financial pressure experienced by families paying mortgages while waiting for their homes.
Helmsman Group attributed the delays to various challenges that were beyond its control.
The company cited disruptions involving community members relocated from the development area who later returned to stop contractors from working on site.
It also pointed to pending land subsidy approval processes at the Rundu Town Council, shortages of sand supply, delays in construction materials and worker shortages during the holiday period.
The company said construction is continuing and that several houses have already been completed and handed over to homeowners.
Helmsman Group also said it had offered financial support arrangements and assistance to some affected residents to help ease the burden caused by the delays.
The company said bank payments are released progressively according to construction progress and project milestones, meaning the company also remains financially tied to the completion of the project.
Helmsman Group said it remains committed to completing the remaining houses and continues engaging homeowners, local authorities, financial institutions and other stakeholders.
The company also called for balanced public discussion on the matter and warned against misinformation that could discourage investment and development projects in Namibia.
“Ms Stina Wu and Helmsman Group remain committed to Namibia, to the people of Rundu, and to delivering quality housing solutions responsibly.”
