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Business / Economics

Namibia Sees Surge in Private Sector Credit Extension in May 2024

todayJuly 2, 2024 14

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In May, private sector credit extension in Namibia rose to 3.2% year-on-year, up from 1.6% in April 2024 and 1.5% in May 2023, marking the highest increase this year and the highest since March 2023. Simonis Storm attributes this growth primarily to increased corporate demand, which surged to 4.7% year-on-year in May 2024, compared to 0.6% in April and a contraction of -3.4% in May 2023. Simonis Storm’s Economist, Halleluya Ndimulunde.

 

Written by: Leonard Witbeen

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