MTC says its newly launched Taamba Maris Loan is designed to protect Namibians from loan sharks and reduce over-indebtedness by offering small, transparent, and responsibly managed loans.
Tim Ekandjo, MTC’s Chief Human Capital, Marketing, Communications and Sustainability Officer, said the product has already received positive market feedback and is aimed at ending the cycle of short-term loans disguised as financial inclusion solutions.
“With the Taamba Maris Loan, the limit is N$1,500, helping to reduce exposure and prevent over-indebtedness. We’ve also adopted a behavioural credit scoring system to ensure loans are only approved for customers with a proven ability to repay. According to our loan policy, customers can take only one loan at a time, and we implement cooling-off periods to prevent consecutive borrowing,” he said.
Ekandjo said future plans include introducing a tiered pricing system to reward repeat borrowers with lower rates, as well as opt-in savings products linked to repayment behaviour.
“A key feature that sets Taamba Maris apart from other loan products is its transparency and integrated loan health safety modules, which provide customers with repayment flexibility,” he added.
Customers will be told the total repayment amount, including interest, before accepting the terms.
“In its current form, 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. This loan allows individuals to access the support they need while also establishing a digital footprint that can facilitate access to future credit,” Ekandjo said.
He noted that the loans are typically used for essentials such as water, electricity, school supplies, and groceries.
A responsible borrowing campaign will also be rolled out in local languages to promote financial literacy.
Ekandjo stressed that MTC Maris will use responsible recovery methods, including SMS reminders, and that the aim is to support Namibians in need, not deepen their debt.
“Taamba Maris is exactly what the market needs,” he said.
