Namibia's financial inclusion reaches 86% of adult population
According to the 2025 Namibia Financial Inclusion Survey report released by the Namibia Statistics Agency NSA, 86% of Namibia's adult population, or 1,563,688 people, are now financially included, an increase from 78% in 2017. This means they have access to financial products and services such as savings, payments, credit, and insurance. Formal financial inclusion rose to 81.5%, with 75.6% of adults using commercial banking services and 71.3% using other formal non-bank financial institutions. NSA chief executive Alex Shimuafeni noted that financial inclusion is higher in urban areas 91.7% compared to rural areas 79.3%, and higher among females 87.6% than males 84.2%, with a narrowing gender gap. Banking in Namibia is primarily driven by savings, transactional activities, and remittances. About 75.6% of the population aged 15 and above holds bank accounts, while 18.3% have smart card accounts. Affordability remains a barrier, with 43.2% of adults without bank accounts citing insufficient funds as the main reason. Advantages of bank accounts include safety from theft 63.6%, ease of sending money 52.3%, and security of remittances 47.3%. The survey also found that only 5.7% of the rural population can reach a bank within 30 minutes, compared to 40.1% in urban areas. Savings remain important for household financial management, with 72.5% of adults saving. However, saving through formal mechanisms declined from 60% in 2017 to 53.2% in 2025, while informal savings slightly increas
