Understanding the State of Financial Inclusion in Namibia

Abstract

This study investigates the state of financial inclusion in Namibia using access and usage indicators over selected time periods during which data is available. Financial inclusion is defined as the delivery of financial services at affordable costs to sections of disadvantaged and low income segments of society. It also implies enabling access to financial resources and services for economic agents, especially, those on the lower wrung of the income ladder at an affordable cost. All access and usage indicators show an increasing trend meaning that banking institutions played a significant role in ensuring that the majoring of Namibians use financial services that are available.

Keywords: Financial Inclusion, Namibia, Access Indicators, Usage Indicators