According to the Bank of Namibia’s Money and Banking Statistics’, the decline in the Private Sector Credit Extension (PSCE) growth stemmed from lower demand for credit extended to households during the period under review. Nevertheless, growth in PSCE was sustained by a marginal increase in credit extended to businesses. Growth in PSCE decreased further by 0.2 percentage points towards the 1.8% mark as at the end of January 2021. Shaun-Lee Lahner from wealth management firm Simonis Storm Securities says the PSCE was also sustained by a marginal increase to credit extended to businesses.