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March 2026
The Namibian
IJG Securitiessaysmoderation in growth was driven mainly by reduced borrowing activity in corporate segment
Source
“IJG says the moderation in growth was driven mainly by reduced borrowing activity in the corporate segment, echoing the assessment of the Bank of Namibia.”
“According to a private sector credit extension (PSCE) analysis by IJG Securities, credit growth edged down to 4.4% y/y in December, compared to 4.5% in November.”
IJG Securitiesanalyzednew vehicle sales breakdown in 2025
Source
“According to an analysis by IJG Securities, 6 724 of the new vehicles sold during the year were passenger vehicles, 6 831 were light commercial vehicles, and 947 were medium and heavy commercial vehicles.”
Wealth Management Solutions, a Windhoek financial advisory firm, has applied for voluntary liquidation after losing money in foreign exchange trading, with clients fearing millions in losses. The firm collected funds from Namibian investors and pensioners for forex investments and had placed N$17 million with IJG Securities, which says those funds are safe.
Private sector credit rose marginally in March 2024 by N$158.4 million or 0.1% month-on-month and 4.3% year-on-year, with individuals borrowing N$2.85 billion and corporate entities N$2.18 billion over the past 12 months. The growth was driven by robust mortgage lending and a rebound in overdraft facilities, though corporate borrowing growth slowed to its weakest expansion since November 2024.
The City of Windhoek approved 192 building plans in March worth N$100.1 million, up in volume from 150 in February but declining 30.9% month-on-month in value. Residential units approved increased to 32 from 28, though their total value fell to N$46.3 million from N$65.1 million, reflecting a shift towards lower-value developments.
Sintana Energy, a Canadian company listed on the London Stock Exchange, has announced plans to trade on the Namibia Securities Exchange (NSX). The company aims to give Namibians an opportunity to invest directly in offshore oil developments.
More commercial and industrial building plans were approved in Windhoek in February than at the same time last year, with IJG Securities reporting that the sharp monthly increase points to renewed developer confidence and improving construction follow-through.
Namibian banks lent N$534.7 million more in January than December, a 0.4% monthly rise that brought total private sector credit to N$122.85 billion. However, annual growth slowed to 3.9% from 4.4% in December, driven mainly by reduced corporate borrowing and net repayments, though lending to individuals accelerated to 3.0% annual growth.
Namibian private sector credit grew 0.7% month-on-month in December to N$122.3 billion, with annual credit growth moderating to 4.4% y/y. Growth in credit to individuals remained below the inflation rate of 3.2%, while corporate credit growth slowed to 6.8% y/y.
Namibia sold 14,502 new vehicles in 2025, a 13% increase from 2024, driven by lower interest rates and stronger demand across passenger and commercial segments. December sales totalled 1,138 units, down 8.5% from November but up 3.5% year-on-year, with Toyota maintaining market dominance across all vehicle categories.