CONTRACTS – INTEREST – PAYMENT OF INTEREST AND THE DIFFERENCE BETWEEN COMPOUND INTEREST, SIMPLE INTEREST AND MORA INTEREST DISCUSSED – LEGAL PRINCIPLES RESTATED. Natural Namibia Meat Producers (Pty) Ltd v Council for the Town of Aranos NAHCMD.

The plaintiff is a private company duly incorporated in terms of the company laws of Namibia. The defendant is a local authority council established in terms of the Local Authorities Act, 23 of 1992 (as amended). In terms of section 30(1)(f) of the Local Authorities Act, the defendant is empowered to, ‘subject to the provisions of Part X and the Electricity Act No 2 of 2000, supply electricity or gas to the residents in its area’. Pursuant to the Local Authorities Act, and the Electricity Act, the plaintiff and the defendant concluded a verbal agreement in . . .

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