That position changed in August 2014 when the Credit Bureau Regulations were gazetted. The Regulations are meant to regulate the operations and conduct of credit bureaus, in order to ensure that credit information sharing is carried out within the confines of the law.
As part of the provisions of the Regulations, credit providers in Namibia are now required to provide credit performance information to all registered credit bureaus. The purpose of this provision is to ensure that a complete picture of individual borrowers is obtained, to enable comprehensive affordability assessments to be done with a view to curb over indebtedness of customers.