Understanding Financial Default By Bank Windhoek’s Credit Executive Officer, Eddie King.

Understanding Financial Default By Bank Windhoek’s Credit Executive Officer, Eddie King.

Financial default occurs when an individual or small business fails to meet the agreed-upon payments on a debt, meaning they fail to service their instalments on the approved loan or facility, such as a home loan, personal loan, overdraft facility, or credit card. Defaulting on payments can have significant consequences, affecting one's credit rating (credibility with a financial institution) and access to future credit. Firstly, default typically starts when payments […]

November 21, 2024 3

Business / Economics

Finance Minister, Ipumbu Shiimi tables 2024/25 national budget

Finance Minister Ipumbu Shiimi has tabled the National Budget for the 2024/25 period in the National Assembly this afternoon. Shiimi said that this year’s budget was built on the three pillars of stimulating domestic demand, accelerating investments in productive public infrastructure, and cultivating fiscal prudence. Revenue estimates for FY2023/24 have been revised upwards by N$2.5 billion to a total of N$81.1 billion. Old Age Grant and the Disability […]

February 28, 2024 65