A walk to the bank
29 March 2018 | Business
While close to a fifth (19.5%) of households in the country travel over 40km to reach a bank, only a small portion of households in urban areas can relate, while 40% of households in rural areas travel the same distance.
Details in the 2015/16 Namibia Household Income and Expenditure Survey (NHIES), released this month, further state that close to a third of households travel a distance of 2 to 5km to reach a banking facility, comprised of 46.7% of urban households and less than 7% of rural households.
In Namibia, households travel a distance of between 6 to 10km, 11 to 25km and 26 to 40km. Of the 544 655 households in the country, 4.8% do not know the distance they travel to access a bank from their homes. Of these, the majority are households are from the Kavango East, Oshikoto, Kunene and Ohangwena regions.
At a regional level, Erongo has the highest number of privileged households when it comes to accessing banks by distance, as over 80% of households in the region travel either less than 1km or between 2 to 5km to get to the bank.
Other regions who have majority of households who travel either less than 1km and 2 to 5km to get to the bank are //Karas (70.5%), Hardap (63.4%), Khomas (66.5%), Oshana (59.3%) and Otjozondjupa (55.9%).
Close to half of households in Kavango West, Kunene, Omaheke and Zambezi travel over 40km to the bank. Unsurprisingly, these regions have a small amount of households who travel less 1km to the bank, except for Kunene, where 21% of households travel less than 1km to the bank.
Other regions with sizeable number of households who travel over 40km to the bank are Otjozondjupa, Oshikoto, Omusati, Kavango East, Hardap and //Karas, with between 20 and 35% of households in these regions travelling that distance.
The measure of households by distance to banking facilities was introduced in the Namibia 2015/16 NHIES, as it was not used in the 2009/10 survey.