Trade Deputy Minister calls on stakeholders to carefully study proposed Property Practitioners Bill

Trade Deputy Minister calls on stakeholders to carefully study proposed Property Practitioners Bill
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Nampa

The Industrialization, Trade and SME Development Deputy Minister calls on stakeholders to carefully study stipulations in the proposed Property Practitioners Bill.
Lucia Ipumbu said the proposed draft law would have estate agents register and regulate the industry, keep in place the Estate Agent Fidelity Fund and bring protection to consumers.
She said the property market faces numerous challenges, which the Namibia Estate Agents Board finds difficult to resolve.
The deputy minister explained that the 1976 Estate Agents Act is outdated and inadequate for Namibia's fast growing property market.
Her ministry and Estate Agents Board are consulting estate agents and business practitioners on the proposed law.
It undertook a road show, which started in Kavango Region last week and is scheduled to in Keetmanshoop next week.
Altogether 14 statutes are up for discussion, as indicated by President Hage Geingob during the opening of Ninth Session of the Sixth Parliament.
Iipumbu was speaking in Windhoek at a recent stakeholder consultation organized by the Namibia Estate Agents Board.