Mines and Energy Minister Tom Alweendo says incidences of bank’s failure to guarantee depositors of their safety have necessitated the need for a regulatory body. Alweendo debated on the Namibia Deposit Guarantee Authority Bill in the National Assembly. The Bill provides for the establishment of a ‘deposit guarantee scheme’ to pay depositors in a quick and transparent manner, should a bank fail. A depositor may be compensated to a maximum amount of N$25 000