07
Oct
Tujoromajo Kasuto The Namibia Financial Institutions Supervisory Authority (Namfisa) in its Annual Report for the year ended March 2022 has revealed that Namibians are drowning in debt with loan sharks amounting to N$4.5 billion, a 10% increase from 2021. The authority states that the risk appetite due to the negative impact of COVID-19 in the market could have contributed to this trajectory as the perception at the end of 2021 had relatively improved. The value of the micro-lending loan book continued to register an increase during the period under review. ‘’This growth was mainly reflected in total disbursements, which were…