Households’ short-term debt more than N$10 bn in May

Individuals’ bank debt for other loans and advances, which include personal loans and credit card debt, shot up to more than N$8.01 billion last month.
Total overdraft debt for households was nearly N$2.4 billion, the latest monetary statistics by the Bank of Namibia (BoN) show.
Compared to May 2019, other loans and advances increased by nearly N$1.5 billion or 20%.
Overdraft debt totalled N$215.8 million or 10% more than a year ago.