Oshakati client debt drops by close to N$20m
Interest waiver policy continues
The Oshakati Town Council's financial aid efforts have led to a significant decline in customer debt.
The total debt owed to the Oshakati Town Council by its customers as of the end of June stood at nearly N$61 million, representing a drop of close to N$20 million compared to the same period last year.
This was revealed by the council’s spokesperson, Katarina Kamari, in a media release issued on Friday.
According to Kamari, the council's debt book was N$80 224 301 as of 30 June 2023. By 30 June this year, the figure had declined to N$60 897 122.
This improvement is largely attributed to the appointment of Redforce Debt Management and the council's waiver of interest initiative, the council announced.
The council announced the waiver of interest last September – Kamari confirmed on Friday that this initiative will continue.
“In an ongoing effort to ease the financial burden on residents, the Oshakati Town Council is pleased to announce the continuation of the wavering on all residents’ municipal accounts in arrears,” she said.
“This measure forms part of the council’s commitment to provide relief to its residents, especially in these challenging economic times. Last year in September, council announced that all interests accumulated on all municipal accounts were to be waived," she added.
Accounts settled
Kamari said the decision was taken by council to encourage all account holders to be able to honour paying their municipal services and allow all clients with accounts in arrears to be able to pay off their debt.
“As a result, most account holders have settled their outstanding bills. The continuation of this exercise is the council's way of assisting the community to meet their financial commitments without being overwhelmed by interest charges," she noted.
The waiver of interest on municipal accounts is applicable to all, including residential, schools, businesses, non-profit organisations, community-based organisations, churches, government and parastatal institutions.
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This was revealed by the council’s spokesperson, Katarina Kamari, in a media release issued on Friday.
According to Kamari, the council's debt book was N$80 224 301 as of 30 June 2023. By 30 June this year, the figure had declined to N$60 897 122.
This improvement is largely attributed to the appointment of Redforce Debt Management and the council's waiver of interest initiative, the council announced.
The council announced the waiver of interest last September – Kamari confirmed on Friday that this initiative will continue.
“In an ongoing effort to ease the financial burden on residents, the Oshakati Town Council is pleased to announce the continuation of the wavering on all residents’ municipal accounts in arrears,” she said.
“This measure forms part of the council’s commitment to provide relief to its residents, especially in these challenging economic times. Last year in September, council announced that all interests accumulated on all municipal accounts were to be waived," she added.
Accounts settled
Kamari said the decision was taken by council to encourage all account holders to be able to honour paying their municipal services and allow all clients with accounts in arrears to be able to pay off their debt.
“As a result, most account holders have settled their outstanding bills. The continuation of this exercise is the council's way of assisting the community to meet their financial commitments without being overwhelmed by interest charges," she noted.
The waiver of interest on municipal accounts is applicable to all, including residential, schools, businesses, non-profit organisations, community-based organisations, churches, government and parastatal institutions.
[email protected]
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