Namibia: Private Sector Credit Passes N$100 Billion Mark

CREDIT uptake by the private sector in Namibia hit N$118 billion in 2022, averaging 3,6% compared to predictions of 3,4%, financial analysts have said.

According to Simonis Storm Securities, this follows the latest data point of 4,2% year-on-year (y/y) credit growth in December 2022, compared to 3,7% y/y in November 2022.

“Credit growth in 2022 exceeded the annual average credit growth in the last two years and was mainly supported by credit uptake by corporates, which averaged 4,6% in 2022,…