Repossession-haunted residents march in Windhoek
• Chairperson plagued by fraud, corruption claims
The beleaguered head of the National Ownership Association warned commercial banks of "potential violence" that could erupt if property repossessions continue.
National Ownership Association chairperson August Maletzky recently led a mass protest against property repossessions by commercial banks, the Bank of Namibia (BoN) and several lawyers, and handed over a petition to parliament.
The protest was attended by just over 20 Windhoek residents, most of whom share similar stories of property repossessions.
Maletzky made headlines in 2021 on allegations of fraud and corruption after he allegedly fraudulently sold the house of 84-year-old Samuel Dias and his wife in 2017 for N$2.5 million. The High Court declared the sale null and void earlier this year. It further ordered Maletzky to pay Dias' legal costs and reregistered the house in the name of the original owner.
Maletzky sold Dias' house in Windhoek West to Windhoek resident Edward Nghitumbwa in September 2017 after leasing the home for a year at a N$10 000 monthly payment.
During the protest, Maletzky - along with the handful of protestors - marched to several commercial banks along Independence Avenue, demanding the return of their property.
"Spare me the ‘honour’ of looking [BoN governor] Johannes !Gawaxab in his eyes. If I see him, I might lose all restraint left in me and do something irresponsible and assault him. Seeing him will provoke me to the highest extent," Maletzky said while delivering a copy of the petition to the BoN.
Potential violence
According to the association chairperson, thousands of Namibians have suffered the "unconstitutional loss of primary homes, land and other forms of movable and immovable assets on account of default judgments".
He also urged !Gawaxab to resign and to “take all his deputies along”.
Maletzky further warned commercial banks of potential violence that might erupt if the rampant repossessions continue.
"Restitution for losses and damages suffered at the hands of a select corrupt legal fraternity and the banking system in Namibia is the only way to rectify the injustices our people are made to suffer at the hands of those alleged to be the upper guardians of our constitutional rights," the petition read.
Like in SA
In May, Metcalfe Beukes Attorneys sent a letter to the BoN, highlighting several homeowners' plight of losing their homes due to home loan defaults.
The lawyers suggested the implementation of Standard Bank's EasySell programme, which would allow home loan clients to sell their property at market-related prices.
To this, !Gawaxab said the current home loans approved under the moratorium stand at N$5.8 billion and that the programme had already come into effect some 20 months ago.
"The offering overall is quite new in Namibia and is only availed to clients who defaulted on their home loan obligations. However, it should be noted that it is an option for distressed clients only and part of the particular banking institution's rehabilitation strategies, not linked to any legal/regulatory requirements, similar as in South Africa," he said.
Read the fine print
!Gawaxab said prospective homeowners should "thoroughly scrutinise the loan agreements before they sign such agreements".
"The [BoN] acknowledges the financial hardships caused by high legal fees incurred by clients of banking institutions who have defaulted on their home loan repayments.
“Legal fees are set out in the contract signed at the inception of the loan agreement. As such, homeowners (actual and prospective) are encouraged to thoroughly scrutinise the loan agreements before they sign," he said in his response.
The BoN revealed that since April 2020, banks received a total of 377 875 applications for holiday relief on home loans, of which 370 816 were approved.
"Individuals were the sector that largely benefitted from relief measures as total applications granted stands at 228 887 approved facilities, followed by real estate and business services and trade and accommodation entities," he said.
The protest was attended by just over 20 Windhoek residents, most of whom share similar stories of property repossessions.
Maletzky made headlines in 2021 on allegations of fraud and corruption after he allegedly fraudulently sold the house of 84-year-old Samuel Dias and his wife in 2017 for N$2.5 million. The High Court declared the sale null and void earlier this year. It further ordered Maletzky to pay Dias' legal costs and reregistered the house in the name of the original owner.
Maletzky sold Dias' house in Windhoek West to Windhoek resident Edward Nghitumbwa in September 2017 after leasing the home for a year at a N$10 000 monthly payment.
During the protest, Maletzky - along with the handful of protestors - marched to several commercial banks along Independence Avenue, demanding the return of their property.
"Spare me the ‘honour’ of looking [BoN governor] Johannes !Gawaxab in his eyes. If I see him, I might lose all restraint left in me and do something irresponsible and assault him. Seeing him will provoke me to the highest extent," Maletzky said while delivering a copy of the petition to the BoN.
Potential violence
According to the association chairperson, thousands of Namibians have suffered the "unconstitutional loss of primary homes, land and other forms of movable and immovable assets on account of default judgments".
He also urged !Gawaxab to resign and to “take all his deputies along”.
Maletzky further warned commercial banks of potential violence that might erupt if the rampant repossessions continue.
"Restitution for losses and damages suffered at the hands of a select corrupt legal fraternity and the banking system in Namibia is the only way to rectify the injustices our people are made to suffer at the hands of those alleged to be the upper guardians of our constitutional rights," the petition read.
Like in SA
In May, Metcalfe Beukes Attorneys sent a letter to the BoN, highlighting several homeowners' plight of losing their homes due to home loan defaults.
The lawyers suggested the implementation of Standard Bank's EasySell programme, which would allow home loan clients to sell their property at market-related prices.
To this, !Gawaxab said the current home loans approved under the moratorium stand at N$5.8 billion and that the programme had already come into effect some 20 months ago.
"The offering overall is quite new in Namibia and is only availed to clients who defaulted on their home loan obligations. However, it should be noted that it is an option for distressed clients only and part of the particular banking institution's rehabilitation strategies, not linked to any legal/regulatory requirements, similar as in South Africa," he said.
Read the fine print
!Gawaxab said prospective homeowners should "thoroughly scrutinise the loan agreements before they sign such agreements".
"The [BoN] acknowledges the financial hardships caused by high legal fees incurred by clients of banking institutions who have defaulted on their home loan repayments.
“Legal fees are set out in the contract signed at the inception of the loan agreement. As such, homeowners (actual and prospective) are encouraged to thoroughly scrutinise the loan agreements before they sign," he said in his response.
The BoN revealed that since April 2020, banks received a total of 377 875 applications for holiday relief on home loans, of which 370 816 were approved.
"Individuals were the sector that largely benefitted from relief measures as total applications granted stands at 228 887 approved facilities, followed by real estate and business services and trade and accommodation entities," he said.
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