Residents of Windhoek have embarked on a mass protest against commercial banks over home repossessions.

The protests are set to be undertaken nationwide.

The debate around whether commercial banks are profiteering from clients through what MPs call multiple unethical charges triggered intense discussion in the National Assembly.

The Namibia Deposit Guarantee Authority is in the Otjozondjupa Region to educate commercial banks and community members on the types of protection they offer depositor funds.

Before deciding to put their trust in banks, most people worry whether their money will be safe.

Foreclosures and the repossession of homes have been a hot topic making rounds in local media.

Statistics show that commercial banks have repossessed unsold residential properties valued at N$251 million in the past five years until the end of June last year.

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

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