Maria David
THE newly launched MTC Taamba Maris Loan has received positive feedback from the market, according to Tim Ekandjo, the Chief Human Capital, Marketing, Communications & Sustainability Officer.
In a statement issued on Sunday, Ekandjo indicated that with the Taamba Maris Loan, the limit is N$1,500, helping to reduce exposure and prevent over-indebtedness.
He explained that the era of short-term loans masquerading as financial inclusion solutions — often trapping Namibians in deeper debt — is over.
“We have also adopted a behavioural credit scoring system to ensure loans are only approved for customers with a proven ability to repay,” he said.
He added that under their loan policy, customers can take only one loan at a time and must observe cooling-off periods to prevent consecutive borrowing.
Ekandjo highlighted that future plans for Taamba Maris include a tiered pricing system where repeat borrowers will benefit from lower rates, thus lowering their overall long-term costs.
Additionally, he said there are plans to introduce opt-in savings products linked to repayment behaviour, encouraging customers to shift from borrowing to building assets.
“A key feature that sets Taamba Maris apart from other loan products,” he added, “is its transparency and integrated loan health safety modules, which provide customers with repayment flexibility.”
He said that customers will be informed of the total repayment amount, including interest, before accepting the loan terms.
In its current form, Ekandjo said Taamba Maris primarily functions as an emergency liquidity solution for the unbanked, helping them avoid loan sharks who often charge exorbitant interest rates of up to 40% per month.
Ekandjo explained that the loan allows individuals to access the support they need while also establishing a digital footprint that can facilitate access to future credit.
“Typically, we issue these loans to customers who need assistance with essentials such as water, electricity, school supplies, and groceries,” he said.
Ekandjo assured customers that MTC Maris will employ responsible lending recovery methods, including regular reminders via SMS. He said that Taamba Maris is exactly what the market needs and that MTC Maris is committed to supporting Namibians in difficulty, not increasing their debt.
Taamba Maris will also launch a responsible borrowing campaign, presented in various local languages, to educate and raise awareness about responsible borrowing and financial literacy.
Photo: Contributed
