Namibia: Half of Working Namibians Borrow to Buy Food

Namibians have turned to banks and microlenders to borrow money to meet their daily household food needs.

The latest Namibia Statistics Agency (NSA) Financial Inclusion Survey has revealed that 546 000 working Namibians have no disposable income and have taken up debt to finance their basic needs.

The survey shows 51.3% of the Namibia’s working population borrows to buy food, while 22.1% borrow to pay for education financial needs and 16.4% borrow to pay for daily transport needs.

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