馃嚦馃嚘NamibiaSouthern Africa
Namibians among lowest borrowers in Common Monetary Area
via The Namibian2 min read
The Bank of Namibia reports that Namibians borrow significantly less than other nations within the Common Monetary Area CMA, which includes Lesotho, South Africa, and Eswatini. Despite owing nearly N$130 billion, Namibians have one of the lowest household indebtedness rates as a percentage of gross domestic product GDP in the region. Household debt in Namibia stands at 30.7% of GDP, making it the second lowest after Lesotho, which recorded 17.2% in 2024. This indicates a contained level of excessive debt, though the central bank emphasizes the need for continued monitoring due to subdued income growth and credit composition risks. In the microlending industry, Entrepo Finance and Letshego Micro Financial Services each hold 28.4% of Namibia's N$7.8-billion market, with Old Mutual Finance controlling 18.9%. These three companies collectively managed 75.7% of the industry's total loans as of last October.
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This summary was AI-generated from a story originally published by The Namibian.
Must ReadThe Independent Patriots for Change IPC has called on President Netumbo Nandi-Ndaitwah to use her state visit to Tanzania to speak out against human rights abuses in the country. This marks Nandi-Ndaitwah's second visit to Tanzania since President Samia Hassan's election. Rodney Cloete, IPC shadow minister for international relations, stated that Tundu Lissu, leader of the main opposition party Chadema, has been detained since April 2025 on a treason charge that carries the death penalty and does not allow bail. The United Nations declared Lissu's detention unlawful in February, and the American Bar Association's human rights center found his prosecution to be politically motivated. Cloete urged President Nandi-Ndaitwah to publicly demand Lissu's release and to report to the National Assembly upon her return, tabling any agreements signed during her visit. He also noted that Hassan's election involved security forces using disproportionate lethal force and internet shutdowns.
Must ReadPresident Netumbo Nandi-Ndaitwah and her Tanzanian counterpart, President Samia Hassan, met in Dar es Salaam to strengthen economic cooperation and regional integration. Their discussions focused on strategic sectors such as trade, mining, agriculture, infrastructure, investment, and regional integration. The meeting resulted in the signing of several agreements covering trade, agriculture, defense cooperation, and the promotion of small and medium enterprises. President Hassan described President Nandi-Ndaitwah's visit as a "homecoming," acknowledging Namibia's liberation struggle ties to Tanzania. President Nandi-Ndaitwah expressed gratitude for the reception and congratulated President Hassan on her leadership, emphasizing that the visit reaffirms the strong fraternal bonds and Tanzania's support during Namibia's fight for independence. She highlighted that the friendship forged during the liberation struggle should drive expanded economic cooperation, regional integration, and shared prosperity for both nations.
American Wyndham Clark holds a six-stroke lead after the third round of the US Open, finishing with a level-par 70 at Shinnecock to reach seven-under 203. Despite a bogey on the 18th, Clark increased his lead. World number one Scottie Scheffler, aiming for a career Grand Slam, shot a 69, one of only two sub-par rounds, to move into a tie for second at one-under 209. Scheffler recovered from an early two-bogey start with four birdies on the back nine. Joining Scheffler at 209 are fellow Americans Sam Stevens and Sahith Theegala, along with South Korea's Tom Kim. The challenging conditions at Shinnecock, with whipping winds, dense rough, and tricky pin positions, tested the golfers. Players are competing for a record $4.5 million top prize from a total purse of $22.5 million. Clark, the 2023 US Open champion, made an eagle putt on the par-five 16th. Rory McIlroy, ranked second, is 10 strokes behind Clark at 213 after a round of 73, which included five bogeys on the back nine.