A walk to the bank

29 March 2018 | Business

Ndama Nakashole - About a fifth of households in Namibia travel about 1km to reach the nearest bank, while almost the same number of households travel a distance of more than 40km to access the nearest facility. The portion of households who travel less than 1km is higher in urban areas where a third of households travel that distance to get to a bank. In rural areas, only 2% of households travel less than 1km to get to a banking facility.

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.

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.

Similar News

 

O&L Leisure takes ‘urgent rescue measures’

13 hours ago | Business

Jo-Maré Duddy – The basic salaries of nearly 500 employees of O&L Leisure will be cut by between 25% and 50% for the next three...

Meeting the legal needs of people

13 hours ago | Business

Rivaldo Kavanga The firm is a general law practice. Their main areas of practice are criminal defence, labour law, commercial litigation, corporate governance, administrative law,...

Breathing deep

13 hours ago | Business

During the first week of the Breathe Namibia campaign, Agra and Woermann, Brock & Co staff handed over more than 50 Oxygenators to recipients in...

Authentically Namibian

13 hours ago | Business

Jeanette DiergaardtCompany Profile In April 2003, Sisa Namandje...

Company news in brief

13 hours ago | Business

Tesla mints nickel deal with BHPAnglo-Australian mining firm BHP said yesterday it had reached a deal to provide Tesla with supplies of nickel - a...

O&L Leisure to temporarily close two lodges

1 day - 22 July 2021 | Business

Jo-Maré Duddy - As part of “urgent rescue measures to safeguard the future sustainability of its business and mitigate the risk of the impact on...

South Africa unrest hits 40 000 businesses

1 day - 22 July 2021 | Business

At least 40 000 South African businesses were looted, burnt or vandalised during widespread rioting that broke out after the jailing of ex-president Jacob Zuma,...

COMPANY NEWS IN BRIEF

1 day - 22 July 2021 | Business

BHP considering exiting oil business Global miner BHP Group is considering getting out of oil and gas in a multibillion-dollar exit as it looks to...

COMPANY NEWS IN BRIEF

2 days ago - 21 July 2021 | Business

DHL to deploy longer distance drones Logistics giant DHL is working with Bulgarian aircraft developer Dronamics on rolling out cross-border and inter-city drones aimed at...

COMPANY NEWS IN BRIIEF

3 days ago - 20 July 2021 | Business

Nigeria chooses Dangote to import sugarNigeria has designated three companies, including Dangote Sugar Refinery, as the country's sole importers of sugar, the central bank said,...

Latest News

Bridging the healthcare divide saves...

13 hours ago | Columns

Celia Sofia StephanusIn December 2019, Covid-19 became something for the world to worry about. It was no longer something that was just happening in Asia....

Give me Namibia’s unemployment problem...

13 hours ago | People

Wetumwene Shikage She was born in Katutura, in a settlement known as Gemeente, which she describes with pride saying that after apartheid during...

Border posts’ revenue in Zambezi...

13 hours ago | Economics

Border posts in Zambezi recorded a 26% decrease in revenue during the 2020/21 financial year, regional governor Lawrence Sampofu has said.Delivering his State of the...

Making his way up the...

13 hours ago | People

Desiree GasesEddie King was born and raised in the Western Transvaal town of Klerksdorp. He grew up in a home with loving, committed and hard-working...

Maria Louw manages an integral...

13 hours ago | People

Michelline NawatisesAfter being at Paratus for 14 years, Maria Louw considers herself to be “part of the furniture”, but Paratus considers her part of the...

Meeting the legal needs of...

13 hours ago | Business

Rivaldo Kavanga The firm is a general law practice. Their main areas of practice are criminal defence, labour law, commercial litigation, corporate governance, administrative law,...

EDITORIAL: Namibia must listen to...

13 hours ago | Opinion

The oil search in the Kavango East Region gives Namibia another glimmer of hope for a prime resource breakthrough, but this has not been without...

Breathing deep

13 hours ago | Business

During the first week of the Breathe Namibia campaign, Agra and Woermann, Brock & Co staff handed over more than 50 Oxygenators to recipients in...

Emilia Eino takesing up her...

13 hours ago | People

Emilia Eino has been in the ICT industry for the past ten years. She first served as a development planner responsible for ICT infrastructure development...

Load More