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Nored clears N$341m debt to NamPower Allexer Namundjebo The Northern Regional Electricity Distributor (Nored) says that it has fully settled its debt of N$341 million with NamPower. Nored acting chief executive officer Toivo Shovaleka said this week the debt, which had strained relations between the two entities, was cleared on 9 June 2025.  He described the amount as a historic debt that had built up over several years.  NamPower had previously suspended electricity supply to Nored due to the unpaid amount. To resolve the crisis, Nored entered into a repayment agreement with NamPower in June 2023, which allowed it to gradually settle the debt.  “We are thus pleased to announce and inform all our key stakeholders that this historic debt with NamPower has been fully settled,” said Shovaleka.  He added that Nored’s account with NamPower is now open and in good standing. The announcement comes amid ongoing concerns from NamPower about rising debt levels across its customer base.  In 2023, NamPower managing director Kahenge Haulofu disclosed that the utility was owed N$1.5 billion, with N$842 million overdue.  He warned that the growing debt was threatening NamPower’s sustainability and the country’s energy security. In the same year, Haulofu named Nored as the first regional electricity distributor to be disconnected in phases for failing to honour its payments.  He had also said NamPower had offered various relief options, including instalment plans, interest waivers for accounts paid within 12 months, and extended payment terms from 14 to 20 days.  However, he said few customers responded to these offers, leading NamPower to revive its debt collection efforts. He also suggested that new regional electricity distributors be established in southern Namibia to improve electricity management and skills development. In response to mounting pressure, Nored acknowledged its debt in 2023 and said it was working toward a resolution.  Then-chief executive officer Fillemon Nakashole said the company’s board and management were actively engaging with NamPower to resolve the matter.

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Debt settlement can help you recover financially, but how do you rebuild your credit afterward?

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Saudi Arabia will reportedly settle Syria’s $15B World Bank debts Blog Mobile Portfolio Widgets About Us Advertise Help & Support Authors Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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📖 What Is Debt Settlement and How Can It Help You? Get the answers you need. 📝
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Navigating Debt Negotiations As A Debtor: Understanding Collector Strategies for Negotiating Settlements. Debt Collection, Debt Collectors. Debt Relief, Debt Management.

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