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Namibia’s microcredit portfolios rise 27% to N$9.3 billion

By , based on The Namibian

Namibia’s microcredit portfolios rise 27% to N$9.3 billionIllustrative image · shutter Rwanda · Pexels · Licence Pexels

Namibian microcredit companies’ loan portfolios rose by 27% to 9.3 billion Namibian dollars in the second quarter of 2026, with about 279,500 borrowers. MP Bernadus Swartbooi linked the increase to living costs and low incomes, reports The Namibian.

The loan portfolio of microcredit companies in Namibia grew by 27%, reaching 9.3 billion Namibian dollars in the second quarter of 2026. About 279,500 Namibians borrow from these lenders, according to figures cited on Thursday in the National Assembly by Bernadus Swartbooi, leader of the Landless People’s Movement (LPM), a party represented in Parliament.

Bernadus Swartbooi linked the increase to the rising cost of living and low incomes. He said households were turning to more expensive loans to finance their day-to-day expenses, while questioning whether more flexible terms than those offered by commercial banks might be an attraction.

The LPM leader cited the Namibia Statistics Agency, according to which the majority of employed people earn less than 2,000 Namibian dollars. He added that teachers and nurses were unable to access decent housing, with some living in informal settlements or taking on additional work to support their families.

During the debate on the mid-term budget review, Bernadus Swartbooi attributed these difficulties to unemployment, economic policies, dependence on natural resources and a mismatch between available skills and the jobs on offer. He said the Namibian economy had entered a phase of structural stagnation, according to The Namibian.

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