High banking costs keep thousands unbanked
High banking costs and the inability to maintain savings remain the biggest barriers preventing thousands of Namibians from accessing formal financial services, even as financial inclusion has reached a record 86%. The latest Namibia Financial Inclusion Survey (NFIS) 2025 shows that 43.2% of adults without bank accounts cited insufficient funds to maintain savings as the […] The post High banking costs keep thousands unbanked appeared first on The Namibian .
High banking costs and the inability to maintain savings remain the biggest barriers preventing thousands of Namibians from accessing formal financial services, even as financial inclusion has reached a record 86%.
The latest Namibia Financial Inclusion Survey (NFIS) 2025 shows that 43.2% of adults without bank accounts cited insufficient funds to maintain savings as the main reason for remaining unbanked, highlighting affordability as the biggest obstacle to expanding financial access.
Although 86.0% of Namibia’s adult population, equivalent to 1.56 million people, are now financially included, up from 78.0% in 2017, significant disparities remain between urban and rural communities.
