Namibia relaxes home loan curbs to stimulate economy

WINDHOEK, Nov. 8 (Xinhua) -- Namibia's central bank announced on Wednesday that it is further easing restrictions on home loans in a bid to revive the country's long-depressed housing and construction sectors.

The Bank of Namibia (BoN) said in a statement that a mortgage loan for a second residential property no longer requires any deposit, while mortgage loans for third and subsequent residential properties only require a 10 percent deposit.