Credit to private sector does not necessarily equal economic growth

Private sector borrowing has grown significantly, with credit extended to businesses and households rising by N$5.84 billion between January and September 2026. Simonis Storm economist Almandro Jansen says September alone recorded an additional N$1.06 billion in borrowing, taking outstanding private sector credit to N$128.2 billion. He cautions that higher inflation and borrowing costs are increasing financial pressure, while the surge in lending is not necessarily driving meaningful economic growth. Future Media News engaged Jansen on the latest credit figures.