Namibia MAC – An Attractive Investment

Mortgage finance payments are paid and guaranteed by the Namibian Government:

  • Namibia Government reduces the employee’s paychecks at source by the mortgage amount guarantees that the payment flows directly to the lender
  • Mortgage amount can not be more than 33% of the net take home pay of the Government Employee
  • Namibian government guarantees (re)payment of the mortgages as long as the borrowers work for the government
  • People who leave government employment have to repay the mortgage in full or leave the house for repossession, in the past 2 years this has happened 6 times out of a portfolio of 1810 mortgages and in each time the mortgage was fully paid off in full.
  • In case of a required resale, the Namibian Government offers an explicit 20% equity cushion of any potential loss between sale value and mortgage value and allows any further loss to be supported by the employees' state pension fund

Mortgage Finance Is Secured By The Property:

  • Lending secured by reliable and enforceable mortgages
  • Current Portfolio Loan to Value Ratio: 75%

Namibian Housing Prices on an Upward Trend

Namibia’s housing prices have been on an upward trend for a number of years, but with large difference among regions and property types

Best In Class Local Manager Supported By A U.S. Holding Company Oversight

  • Due to the Namibian Governments Mortgage repayment system for its employees, since inception and to date, First Capital’s portfolios have had: 
    • Zero defaults; 
    • Zero impairments; and
    • Zero foreclosures
    • Strict mortgage acceptance criteria
  • Local manager audited by international accounting firm BDO

Best Practice U.S. Corporate Governance

U.S. Sec Reporting Holding Company

Future Potential

Objective to list bonds on NYSE for secondary market liquidity

First Mover Advantage

  • Namibia needs US$ 10 billion to $15 billion + in financing for mortgage purposes
  • As a first mover, Namibia MAC strives to provide a significant portion of this financing need
  • Namibia MAC has access to 3,000+ Pre-Approved Mortgages Awaiting Funding 

Origination and Administration by Namibia MAC’s partner First Capital

Due to the Namibian Governments Mortgage repayment system for its employees, since inception and to date, First Capital’s portfolios have had:

  • Zero defaults or impairments or foreclosures
  • Strict mortgage acceptance criteria
  • Audits by international accounting firm BDO