Civil servants' home loan scheme is unnecessary, unfair and dangerous

Sir,

Tucked into the top corner on page 22 of the Swazi News (June 13) sat an advert for a civil servants’ home loan scheme from the Swaziland Building Society.

SBS says no deposit is necessary, and offers 8% interest with the government subsidizing the interest on the first E400 000 of the loan.

At the risk of angering my fellow government employees, this seems unnecessary, unfair, and dangerous. Unnecessary: government employees have a steady salary, so let us use it wisely.
With some planning, research, and discipline, one can build a good and modest home with the money one is already receiving.

Unfair: what about all those bogogo and bomake who have nothing like the salaries we have? If anyone deserves some financial breaks in order to put a roof over their heads, it is them.
Dangerous: having the government pay a portion of the interest doesn’t sound safe.

The recent financial meltdown around the world came partly because the United States government had a hand in guaranteeing home mortgages. Swaziland does not, particularly at this time, need an American-style financial crisis.
May we government employees lead by example and live responsibly within our financial means.

Rudy Poglitsh
rpoglitsh@live.com
Via email

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