Staff Reporter
ABOUT 49% of adults borrowed money across all forms in 2025, reflecting an increase from 42.1% in 2017.
This was highlighted by the Namibia Statistics Agency’s (NSA) 2025 Namibia Financial Inclusion Survey (NFIS). The recently launched report aims to provide key indicators of financial inclusion, including access to financial services, the use of financial products, financial capability, and risk management practices.
“Among those who borrow, the primary purposes include food (51.3%), education (22.1%), and transport (16.4%), among others, highlighting the role of credit in meeting essential household needs. When selecting credit or loan products, Namibians mainly consider recommendations from family, friends, and community members (48.4%), as well as low fees or charges (37.7%),” the report highlighted.
The report also found that the use of debt counsellors in Namibia remains almost non-existent, at just 1%, similar to the level recorded in 2017. However, it noted that all respondents who had sought assistance from debt counsellors found the services useful.
“Nevertheless, 51.0 % of the eligible population reported not borrowing, with the majority (67.5%) citing fear of debt as the main reason,” the report reads.
Photo: NSA/Contributed
