Credit extended to businesses in Namibia recorded a negative growth of 1.2 per cent at the end of December 2020, compared to a positive growth of 1.6 per cent a month earlier, the Bank of Namibia said today. The Namibia Press Agency (Nampa) reports that the contraction was attributed to a drop in asset-backed credit facilities and slower growths in other loans and advances, as well as overdraft credit, as the domestic economy remained subdued, according to the central bank’s Money and Banking Statistics for December 2020.