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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

Business / Economics

Household Credit Trends: Mixed Signals in August

todayOctober 3, 2024 12

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Household credit data for August 2024 reveals a mixed trend, with total debt rising by N$125.94 million month-on-month and N$1.3 billion year-on-year, according to official figures. Despite this increase, says The Brief, a report from Simonis Storm Securities indicates that overall credit growth remains subdued. Notably, mortgage loans have declined by 1.1% year-on-year, reversing the 3.1% year-on-year growth seen in August 2023. This decline is largely attributed to the lingering effects of the previously high-interest rate environment.

Written by: Leonard Witbeen

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