Monopolies in some business sectors causes higher profit booking, which also results in raising of prices.
[17] The interest earned in any bank account is subjected to a flat 10% retention as income tax.
[18] Taking a cash or personal loan from a financial institution in Namibia is particularly very expensive because the loan repayment includes several fees such as stamp duties, Namfisa charges, credit life insurance, administration fees, finance charges and Value Added Tax (VAT)".
The money transfer to countries outside of common monetary area is particularly very expensive because of high banks commission and one of the poorest currency buying & selling rates.
An expatriate employee in Namibia is only allowed send a certain percentage of their net earning back to their home country.
In terms of exchange control regulations, every person who contravenes or fails to comply with any provision of these regulations shall be guilty of an offence and liable upon conviction to a fine not exceeding N$250000 or to imprisonment for a period not exceeding five years (5) or both.
[23] With 29.6% unemployment,[24] the government is unenthusiastic about letting people in from foreign countries who would take jobs from Namibians.
One Namibian dollar (NAD) is always equal to one South African rand (ZAR).
[34] Tertiary educational institutions, both private and public, charge tuition fees.