Namibia financial inclusion and debt

A Namibia Statistics Agency survey released in July 2026 showed that more than half of the country's working adults (51.3%) had taken loans to purchase food, marking the highest level of basic‑needs borrowing recorded. The data highlighted that low wages—over 295,000 workers earning less than N$2,000 a month—combined with rising living costs were driving the increase in credit reliance, which had risen from 42.1% in 2017 to 49% in 2025. Household debt was estimated at roughly N$131 billion, dominated by commercial‑bank borrowing.

A second survey released a few days later confirmed that overall financial inclusion had expanded, with 86% of adults now accessing formal financial products and a narrowed gender gap. Nevertheless, the same debt pressures persisted: the majority of workers still earned under N$2,000 monthly and continued to rely on credit for food, education and transport, while household debt to banks remained above N$124 billion. Analysts used the findings to argue for policy measures such as a universal basic income to address the underlying poverty and debt burden.