AMI 03 May 2022: Credit extension growth remains low

Namibia: With a weak economic backdrop and rising cost pressures, the private sector in Namibia continues to struggle as can be seen with the poor credit growth. Borrowing from businesses and households is low – coming in at 2.1% at the end of March. Despite lowering interest rates during the onset of the pandemic, the market has struggled to gain momentum with credit growth averaging 2.5% over the past 12 months. 

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