PDM leader McHenry Venaani blasted banks Friday for making huge profits off regular Namibians. He pointed out how serious the housing crisis has become as new lawmakers prepare to take office. Many young people must rent places even when they earn N$40,000 each month because houses cost way more than they can pay for. Venaani linked this problem to poor financing options for members of parliament and demanded quick action against greedy banking practices.
Philipus Katamelo from the Swapo party agreed banks charge way too much. He blamed fellow lawmakers for creating these problems through bad laws that hurt everyday citizens instead of helping them. The current rules make life harder for most Namibians trying to buy homes or start businesses. Katamelo pushed for changes to fix the banking system and remove unfair charges that keep ordinary people from affording basic needs.
The two politicians highlighted how banking practices block many Namibians from ever owning homes. They stressed that current interest rates and lending rules benefit only banks and wealthy people. Average workers find themselves stuck paying rent forever despite earning decent salaries. Both men called for major banking reforms as part of the next parliamentary session to address this growing crisis.
Banking reform could become a central issue for the new parliament as public anger grows about housing costs. Both political parties seem ready to tackle what they see as unfair profit-taking by financial companies. Leaders want new rules forcing banks to offer better terms for home loans and lower fees. These changes might help thousands of working Namibians finally move from renting into their first homes.
Philipus Katamelo from the Swapo party agreed banks charge way too much. He blamed fellow lawmakers for creating these problems through bad laws that hurt everyday citizens instead of helping them. The current rules make life harder for most Namibians trying to buy homes or start businesses. Katamelo pushed for changes to fix the banking system and remove unfair charges that keep ordinary people from affording basic needs.
The two politicians highlighted how banking practices block many Namibians from ever owning homes. They stressed that current interest rates and lending rules benefit only banks and wealthy people. Average workers find themselves stuck paying rent forever despite earning decent salaries. Both men called for major banking reforms as part of the next parliamentary session to address this growing crisis.
Banking reform could become a central issue for the new parliament as public anger grows about housing costs. Both political parties seem ready to tackle what they see as unfair profit-taking by financial companies. Leaders want new rules forcing banks to offer better terms for home loans and lower fees. These changes might help thousands of working Namibians finally move from renting into their first homes.
