Households are facing a challenging environment, as the rising cost of living combined with tighter monetary policy this year has added to budgetary pressures. Credit extended to the private sector grew by 4,0% year on year (y/y) in July compared to 3,4% y/y in June, with net household debt increasing by 2,1% y/y in July compared to 2,0% y/y in the prior month, whereas net corporate debt increased by 6,5% y/y in July compared to…

Chinese construction company, China Railway Seventh Group, has dragged three insurance companies, for refusing to pay out N$10 million in damages, to court. The company claims that Hollard Insurance Company of Namibia, Quanta Insurance Limited, and Momentum Insurance Limited have refused to pay out an insurance claim about damages incurred during the ongoing construction of phase one of the dual carriageway to the Hosea Kutako International Airport. According to the agreement, the insurance companies would…