Formal Borrowing Statistics in Namibia (2026)

14.6% of adults in Namibia borrowed from a formal financial institution in 2024, World Bank Global Findex data show. Down from 21% in 2021 to 14.6% in 2024 (−6.4 percentage points). Namibia ranks #3 of 36 economies in Sub-Saharan Africa on this measure, and #73 of 142 globally.

Key Statistics

Latest value (2024): 14.6% (2024); Formal Borrowing in Namibia as of 2024, the most recent observation in World Bank Global Findex data.
Change since 2021: −6.4 pp (2024); Down from 21% in 2021 to 14.6% in 2024 (−6.4 percentage points).
Earliest value in this dataset (2014): 11.8% (2014); Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 11.8% in 2014 to 14.6% in 2024.
Peak value (2021): 21% (2021); Highest value in the available series; the 2024 value is 14.6%.
Rank in Sub-Saharan Africa: #3 of 36 (2024); Namibia ranks 3 of 36 countries in Sub-Saharan Africa with data, based on each country's latest value.
Global rank: #73 of 142 (2024); Namibia ranks 73 of 142 countries with data globally.
Sub-Saharan Africa average: 7.8% (2024); Namibia (14.6%) is above the average of 7.8% across the 36 countries in Sub-Saharan Africa with data.
Among women (2024): 14.2% (2024); Value for women in Namibia, same 2024 World Bank Global Findex data.
Among men (2024): 14.9% (2024); Value for men in Namibia, same 2024 World Bank Global Findex data.
Gender gap (women minus men): −0.7 pp (2024); In 2024, the figure was 14.2% for women and 14.9% for men — 0.7 percentage points lower among women.
Among the poorest 40% (2024): 9.4% (2024); Value for adults in the poorest 40% of households in Namibia in 2024.
Poorest-40% gap vs national: −5.1 pp (2024); The poorest 40% (9.4%) are 5.1 percentage points below the national figure (14.6%).
Internet use in Namibia (2024): 64.9% (2024); 64.9% of the population in Namibia used the internet in 2024 (World Bank); shown for context only.
Population (2024): 3 million (2024); Namibia had a population of 3 million in 2024 (World Bank); shown for scale only.

Trend, 2014–2024

Formal Borrowing in Namibia by year (% of adults (age 15+))
Year	% of adults (age 15+)	Change
2024	14.6%	−6.4 pp
2021	21%	+4.0 pp
2017	16.9%	+5.1 pp
2014	11.8%	—

Fig. 1 — Formal Borrowing in Namibia, 2014–2024

Frequently asked questions

What share of adults in Namibia borrowed from a formal financial institution?

14.6% of adults in Namibia borrowed from a formal financial institution in 2024, according to World Bank Global Findex data.

When did formal borrowing in Namibia peak?

The highest value in the available series was 21% in 2021; the latest (2024) value is 14.6%.

How recent is the formal borrowing data for Namibia?

The most recent observation is from 2024. World Bank Global Findex data is reported with a lag, so 2024 is the latest available year for Namibia.

Where does the formal borrowing data for Namibia come from?

The data comes from the World Bank Global Findex (indicator fin22a). The latest observation for Namibia is from 2024; the snapshot was retrieved on 2026-06-10.

How has formal borrowing in Namibia changed over time?

World Bank Global Findex data show a rise from 11.8% in 2014 to 14.6% in 2024.

Source & methodology

Source: World Bank Global Findex, indicator fin22a, retrieved 2026-06-10.

Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.

Last updated 2026-06-10.