Public Hearing Examines Whether Lending Laws Protect Namibians from Exploitation
The National Assembly Standing Committee on Economy and Industry, Public Administration and Planning is holding a public hearing in Kavango East to assess whether Namibia’s existing laws are adequately protecting citizens from exploitation by lending institutions and informal money lenders.
The public hearing is being held at the Kavango East Regional Council Auditorium as part of the Committee’s engagement with stakeholders and members of the public on the impact of lending practices on Namibian households.
The hearing follows the motion titled “Whether the Existing Laws Are Truly Protecting Namibians from Exploitation by Lending Institutions and Informal Money Lenders.”
The Committee is using the engagement to hear directly from members of the public and other stakeholders about their experiences, concerns and views regarding micro-lenders and informal money-lending activities.
Among the issues expected to receive attention are the challenges faced by borrowers, the effectiveness of existing regulatory measures and whether current laws provide sufficient protection against potentially exploitative lending practices.
The public participation is intended to give affected communities an opportunity to raise concerns and provide information that could assist the Committee in its consideration of the motion.
The engagement also provides an opportunity for lawmakers to better understand the realities faced by borrowers, particularly those who rely on lending institutions or informal money lenders to meet household and other financial needs.
The Committee’s consultations form part of Parliament’s broader oversight and legislative responsibilities, with public input potentially contributing to recommendations on strengthening Namibia’s legal and regulatory framework governing lending practices.
The central question before the public hearing remains whether the current laws are doing enough to protect Namibians from exploitation and whether additional measures may be necessary to safeguard borrowers.
Members of the public and stakeholders participating in the hearing are therefore being encouraged to share their experiences and views as the Committee continues its engagement on the matter.
