BoN implored to reviewoutdated loan policies

Niël Terblanché Outdated home loan policies and procedures are contributing to impoverishing Namibians from all walks of life who are still struggling with the economic devastation brought on by restrictive government regulations during the height of the Covid-19 pandemic. Advocate Richard Metcalfe in a letter addressed to the Governor of the Bank of Namibia, Johannes !Gawaxab, said he acts on behalf of numerous clients, who have been forced into a default situation on their home loans as a result of severe financial decline brought on by the Covid-19 debacle because of outdated bank policies and procedures. In the letter, Advocate…