Metcalfe Beukes Attorneys is calling on the Bank of Namibia (BoN) to intervene in how commercial banks deal with defaulting home loan holders.

In a letter directed to the Governor of the Central Bank, Attorney Richard Metcalfe accused commercial banks of economically enslaving defaulters and ignoring relief measures provided for by the Bank of Namibia.

In a five-page letter written on behalf of numerous home loan holders, the firm says homeowners are forced to default due to economic circumstances such as the COVID-19 pandemic.

The Namibia Student Financial Assistance Fund (NSFAF) has awarded loans to 22,178 tertiary students.

The Fund received over 30,000 applications, and close to 8,000 did not qualify for the loan because they were not eligible.

Going to university can be a milestone for many and a proud moment for any parent.

But tertiary education is expensive, and by the time those who were given loans are done with their studies, they will be owing NASFAF thousands of dollars.

The Minister of Labour, Industrial Relations, and Employment Creation, Utoni Nujoma, has given instructions to dispatch a team to Rundu to investigate the alleged beating of employees in exchange for loans.