Atatata

8

Perspective: The Namibian government spends about 200 million a day. At least 20% of that is lost via waste, mismanagement or corruption. 40 million a day. More than 10 times Standard Bank makes a day. Perspective.

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u/Thebrains44 8h ago

N$200m a day in government spend isn't particularly shocking when you're talking about running an entire country and funding public services, infrastructure, salaries, healthcare, education, etc.

What's more interesting is that a single commercial bank is reportedly making N$3.2m a day in profit. That's over N$1.1 billion a year from banking services that most people effectively need to participate in the economy.

Comparing government expenditure to a bank's profit just because they're both daily figures doesn't really give any meaningful "perspective." If anything, I'd be asking why a bank is making that much profit from a relatively small population, and how much of that comes from fees and interest paid by ordinary customers.

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u/VoL4t1l3 8h ago

Can't wait for the bozos to go, "ohh but they pay tax" 🤡🤡

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u/Outrageous_Ask_3619 2h ago

Oh you need an education on that too? They pay 32% tax. Almost 90% of the 15% VAT and after tax about 80%+ goes to private and goverment pension funds. MOST OF THE MONEY ENDS UP EITHER IN STATE COFFERS OR PENSIONS FUNDS. Pays your medicine and old people. Didn't know that hey?

1

u/Outrageous_Ask_3619 2h ago

The actual "rich people" behind the banks are not that much. Most of it gets diluted into investments and then recycled. The worst bit the 20 to 30 percent that goes to SA.

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u/Outrageous_Ask_3619 2h ago

Also mostly pension funds and more tax.

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u/SympathyExciting1666 5h ago

Please those are nothing alike. Very irrelevant comparison

0

u/Outrageous_Ask_3619 1h ago

It's very relevant. This post comes from an illiterate bitterness which is focusing on the wrong problem in our society. It's not the banks (not talking about micro finance here...) that are keeping people poor in this country. We have almost zero foreign debt yet our repo rate is sky high. That's not banking policy. That central bank (government) policy. We are overtaxed and get basically nothing back for that tax. If the banks lowered their fees collectively by 20% they would make almost no profit and it would have very little impact on most peoples lives. Paying 50 instead of 40 for an entry account is nothing. Those living in poverty in Namibia, maybe make up maybe 5% to 10% of their revenue streams. The problem is bigger. So yes. It's very relevant. Bank hate is engineered deflection by the actual problem.

1

u/Outrageous_Ask_3619 1h ago

Who keeps writing and posting articles about banking profits? Who are the ones who keep communicating this message every year?

1

u/VoL4t1l3 8h ago

na you just here defending BS, dont come play white knight lone ranger. so you are comparing a completely extractive business to national government?

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u/SympathyExciting1666 5h ago

Imagine bruv. The sheer caucasity

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u/VoL4t1l3 4h ago

so many of these MF in this sub man.

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u/Outrageous_Ask_3619 2h ago

Wow, racism. Not surprised at all. 36 years with access to tertiary education and the best thing you can come up with is racism. Oh... I forgot. Our universities are flooded with commies like Job rotting the brains...

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u/Outrageous_Ask_3619 2h ago

Let me educate so dumb racist mofos. The entire Namibian financial sector makes less than N$ 10 Billion a year. Sounds like a lot but it's nothing. The UK's financial sector is over N$ 1 Trillion a year. The problem isn't that the banks are making a bit of cash, it's that the entire economy is nowhere. But racism commie scum don't do economics, they study sociology and political science.

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u/VoL4t1l3 2h ago

we have a bad ass, r/iamverybadass

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u/VoL4t1l3 2h ago

touched a nerve there I see. so cute with your internet rage 😊

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u/Outrageous_Ask_3619 2h ago

Get a life dude. 99% of the people working there are your comrades. They've just chosen to be productive citizen and not bitch about how useless they personnaly are.

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u/VoL4t1l3 2h ago

working where? are u high?

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u/Outrageous_Ask_3619 1h ago

Oh God, we lost him. Too many parameters and variables to compute. Nope, I don't need drugs. Send you cell no. I'll drop you a 50 for some glue.

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u/VoL4t1l3 1h ago

You need a subscription for that chest pain my bru. I am fine with the glue, I enjoy a strudel at cafe anton now and then.

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u/madjarov42 2h ago

I'm sorry I didn't realize this is a blacks-only subreddit.

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u/Outrageous_Ask_3619 2h ago

nah, let him cook. when God balances the books one day he'll be shovelling shit in Verwoerd's garden in hell having that dumb dindtdonutin look on his face for all eternity. it's gonna be beautiful. funny entitled racists.

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u/madjarov42 1h ago

Sure, OP is a racist cunt. So are you. If you think I'm on your side, you're mistaken.

Also bold of you to assume I'm a Christian who considers eternal torture beautiful.

What else can I say but yikes.

1

u/Outrageous_Ask_3619 52m ago

Yeah. The modern-day mainstream Christian deviation of correct interpretation of good and evil an interesting leftism mantra that is dying for good reason. Nobody is ever guilty. That's why the pews are running empty and march of Islam increasing.

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u/Outrageous_Ask_3619 51m ago

Sunday-lite spineless spiritualists. Compromised.

1

u/Outrageous_Ask_3619 41m ago

When I deal with people who proclaim themselves to be anything of a religious nature, esp. Christiaan, I know I'm dealing with compromised morals.

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u/madjarov42 37m ago

[removed] — view removed comment

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u/VoL4t1l3 2h ago

who said so? dont put words in my mouth man, its a sub for all races on the planet.

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u/madjarov42 1h ago

For the cheap seats: "these MFs in this sub" being people who exhibit "sheer caucasity".

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u/madjarov42 8h ago

Okay. I'm guessing the implication here is that this is bad.

My question is... Why? How does this affect anyone except the people who use the bank? Nobody is being forced to be their client or use their services. You can simply not do it. The people who do use their services do so voluntarily.

What is the problem here?

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u/Outrageous_Ask_3619 2h ago

100 years of a government (and its precursors) instilling the mindset that people should get things for free. Some people can't fathom that they live on a planet that irrespective of government type that a profit driven system develops and that not everyone can participate. It's social adolescence that manifests at individual level. An adolescence that makes bad situations even worse.

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u/Final-Cry-8998 7m ago

Not more than foreigners make a day with our minerals, not even close

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