More than half of workers report financial stress, Old Mutual Namibia monitor shows

A new survey from Old Mutual Namibia has revealed that 52% of the country’s working population feels under financial stress, with nearly one-third reporting adverse effects on their mental and physical health.

Based on responses from over 650 employed adults, the financial strain stems from rising living costs, stagnant wages, and mounting responsibilities, including caring for both children and adult dependents. Many workers rely on informal side hustles or family loans to manage essentials, while long-term savings remain minimal.

Group Marketing, Public Affairs and Sustainability Executive at Old Mutual Namibia, Mignon du Preez, says that the country is resilient but cautioned that there is an urgent need to shift from short-term coping to financial planning and wealth building, promoting the firm’s “On the Money” financial literacy initiative.

The findings reflect broader trends across sub-Saharan Africa, where nearly half of workers report high levels of daily stress and 28% report loneliness, well above global averages, according to PricewaterhouseCoopers. With 75% of workers reporting stagnant or declining incomes over the past three years, the data underlines the gap between resilience and real financial security.