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Published on 2024-10-08 10:13:12
The Development Bank of Namibia (DBN) has initiated legal proceedings against a company of prominent Chinese businesswoman Qiaoxia Wu, also known as Stina Wu.
The bank is seeking N$68 million in outstanding loans repayments and accrued interest.
In a lawsuit filed in the Windhoek High Court, the DBN alleges that Wu’s company Marigold Hotel Developer breached a loan agreement, failing to punctually make monthly payments to the bank.
According to court documents, the company took two loans…
Read the Full article on The Namibian
