In less than a decade, Namibia has made significant strides in financial inclusion, the statistics improving from 51% to 78%. 

This progress, driven by the Namibia Financial Sector Strategy, launched in 2012, reflects a strong commitment to expanding access to financial services across the country.

The Public Debt Servicing Bill has increased beyond the levels anticipated in the National Budget.

Finance Minister Iipimbu Shiimi says this is commensurate with a rising debt portfolio coupled with the prevailing tight financial conditions.

Despite economic challenges, Namibia has displayed resilience, with an estimated growth rate of 3.5% in 2023.

The public debt stock is expected to reach N$153.8 billion of the gross domestic product (GDP), showing a slight improvement from the previous year.