Only 2.2% of Namibians earn above N$11 000 monthly - NSA

Only 2.2% of Namibia's adult population earns more than N$11 000 a month, while more than half survive on N$2 000 or less, according to the 2025 Namibia Financial Inclusion Survey (NFIS).

The survey, released by the Namibia Statistics Agency (NSA) in Windhoek this week, shows that 54.1% of adults aged 15 years and above earn N$2 000 or less each month, while only a small fraction earn more than N$11 000.

The findings also reveal that many households continue to face financial strain, with about 63% of adults struggling to keep up with their financial commitments.

This is, however, an improvement over the 68.5% reported in the 2017 survey.

According to the report, only 25.4% of respondents said they are often able to make their income last until their next payday.

A further 39.2% said they seldom or rarely manage to stretch their income that far, while 35.4% said their income never lasts until the next payment cycle.

Presenting the findings, NSA chief executive officer Alex Shimuafeni said the survey offers an important picture of the country's financial wellbeing.

"The survey provides evidence on the financial realities of Namibians, including income patterns, access to financial services and household money management."

Despite the low income levels, the survey recorded continued growth in financial inclusion.

The proportion of financially included adults increased from 76% in 2017 to 86% in 2025, meaning about 1.56 million adults now have access to formal or informal financial services, while 254 480 remain financially excluded.

Banking penetration also improved, with 75.6% of adults holding bank accounts compared with 67.9% in 2017 and 62% in 2011.

Access to financial services, however, remains uneven. Financial inclusion stands at 91.7% in urban areas compared with 79.3% in rural areas.

Women are also more likely to be banked than men, with 79.4% of women having access to banking services compared with 71.5% of men.

The survey identified rural residents, young people aged 15 to 20, men, and people with lower levels of education as the groups most likely to remain financially excluded.

State support

Government grants continue to play a significant role in household incomes, with 20.9% of adults relying on state support as their main source of income.

Private sector salaries account for 15.5% of primary income sources, followed by government and parastatal employment at 14.6%, piecework at 14.1%, and informal self-employment at 10.6%.

The survey also found that fewer Namibians are saving. Savings participation declined from 80.5% in 2017 to 72.5% this year, with more than half of non-savers saying they have no money left after meeting basic living expenses.

The proportion of adults borrowing money rose from 42.1% in 2017 to 49% in 2025, with food accounting for more than half of all borrowing. Education and transport were the second and third most common reasons for taking on debt.

Insurance coverage remains low, with only 32.6% of adults insured, while rising living costs were identified as the biggest financial shock facing households, affecting 36.5% of respondents, followed by household illness at 27.1%.