A Private Sector Credit Extension report for April 2022 shows that credit extended to the private sector in Namibia grew by 3.8% year/year in April, compared to 2.1% year/year in March, rising above its 6-month moving average of 2.2%. This, investment research firm, Simonis Storm Securities, Economist Theo Klein, said is the largest monthly annual increase recorded since April 2020, which recorded 3.7% y/y. Meanwhile, current household and corporate debt is about 80% of 2021’s real GDP, which is fairly high compared to emerging market peers.
