Namibia’s Cash Loans Owed N$8.1 Billion

As at the end of 2024, cash loan businesses in the country were owed N$8.1 billion.

This is according to the quarterly report of the Namibia Financial Institutions Supervisory Authority (Namfisa), which regulates the non-banking financial sector.

The report says the loan book value for microlenders was N$8.1 billion, divided amongst 796.

This was an increase of 12.8%.

“Term lender loans, which constituted 94% of the total loan book, grew by 10.7% quarterly to N$7.6 billion,” the report reads.