1. 2017 Namibia Financial Inclusion Survey Resultsby
Mr. Daniel Oherein
Manager: Social Statistics Division

2. Outline Background and Objectives Survey methodology
Demographic characteristics
Income
Financial inclusion
Landscape of financial access
Financial products
Conclusion

3. Background Individual – based sample survey
16+
Focuses on individuals aged 16 years or older
Previously conducted in 2004, 2007 and 2011 through the FinScope survey of South Africa’s FinMark Trust
Countrywide survey, however results are only representative at national level

4. Objectives 01
To measure the levels of financial inclusion (inclusive of formal and informal usage) 02
To describe the landscape of access (type of products and services used by financially included) 03
To stimulate evidence-based dialogues that will lead to interventions to deepen financial inclusion strategies 04
Provide information on new opportunities for increased financial inclusion and usage.

5. Linkages to the SDGs and NDP5
Sustainable Development Goals ( )
NDP5 ( ) and SADC Financial Inclusion Strategy ( )

6. Methodology
Target population → non-institutional population residing in private households in Namibia, aged 16 years or older.
Fieldwork duration → October to November 2017
Data collection: face-to-face interviews administered in CAPI, data captured in the Survey To Go application.
Only one randomly selected person was interviewed per household
Survey sample was obtained from 151 PSUs across all 14 regions → 1,863 households (and consequently persons).

7. The error of non-response was much higher in urban areas
Response Rates
Region
Expected Households
Responding Households
Response Rate
Namibia
2114
1863
88.1
Urban
1078
862
80.0
Rural
1036
1001
96.6
The error of non-response was much higher in urban areas

8. Results Demographic characteristics Income Financial Inclusion
Landscape of financial access
Financial products

9. Demographic Characteristics

10. Demographic Characteristics
Adult population in Namibia (16+) =

11. Demographic Characteristics
Adult population by sex

12. Demographic Characteristics
Adult population by area: urban/rural

13. Demographic Characteristics
Age distribution

14. Demographic Characteristics
Highest level of education

15. Income

16. Main Source of Income

17. Personal Monthly Income

18. Receiving Income
Channel of receiving income

19. Receiving Income
Frequency of receiving income

20. Income Handling
Ease of keeping up with financial commitments

21. Income Handling
Making income last till next one

22. Financial Inclusion

23. Definitions

24. Financial Inclusion and Exclusion Rates
Financial inclusion rates (%)
Financial exclusion rates (%)

25. Formal and Informal Financial Inclusion
Formally served (%)
Informally served (%)

26. Formal Financial Inclusion
Banked (%)
Formal but non-banked (%)

27. Understanding Financial Exclusion
Results show that financial exclusion rates are higher for;
Rural areas
Males
16-20 age group
Those married traditionally and those in consensual unions
Adults whose highest level of education is Kindergarten/day-care and adults that never attended school

28. Landscape of Financial Access

29. The Access Strand

30. Access Strand by Sex

31. Access Strand by Area: urban/rural

32. Comparing Access Across Countries

33. Landscape of Access in 2011 and 2017
The survey uses the landscape of access to illustrate the degree to which financially included individuals have/use financial products and services.
In 2017, the financial inclusion in Namibia is mainly driven by Transactions (81.5%) and Savings (80.7%), as was in 2011.

34. Ownership of bank and smartcard accounts
Bank account to their name
Smart card account to their name

35. Banking
Banking channels considered most comfortable to use

36. Drivers of Banking Products and Services in Namibia

37. Access to Infrastructures

38. Financial Products
Savings
Credit
Insurance
Remittances

39. Savings
Main factors considered in choosing a savings product

40. Savings
Barriers to saving

41. Savings Strand
56.7 percent of adults have or use savings products from banks.
3.4 percent of adults in Namibia have/use savings products from other formal but non-bank institutions.
2.9 percent rely on informal mechanisms such as savings groups, and do not have formal (bank or non-bank) savings mechanisms.
17.5 percent of adults in Namibia keep all their savings at home, and do not have or use formal or informal savings products or mechanisms.
19.5 percent of adults reported that they do not save neither at home nor through an informal or formal financial service provider.

42. Credit
Deciding factors for borrowing/loan products

43. Credit
Barriers to credit

44. Credit Strand
12.8 percent of adults in Namibia have or use credit/loan products from banks.
4.6 percent have or use credit/loan products from other formal but non-bank institutions.
6.7 percent of adults only rely on informal mechanisms such as informal money-lenders. They do not have any formal financial credit/loan products.
18.0 percent only borrow from friends and family, and they do not have or use formal or informal credit/loan products or mechanisms.
57.9 percent reported that they do not borrow neither from friends/family nor from formal or informal financial service providers.

45. Insurance
Unforeseen things that happened in the past six months that affected income negatively

46. Insurance Strand
Individuals who have or use insurance products or services from a formal service provider (30.0 percent). This includes both long and short term insurance.
Individuals who rely on informal mechanisms (0.1 percent).
Individuals who do not have or use insurance products or services, either formal or informal (69.9 percent).

47. Remittance Strand
37.8 percent of the eligible population uses remittance products from banks.
6.0 percent use formal non-bank remittance products to remit some or all of their income.
5.0 percent remit via informal mechanisms.
Only 2.3 percent of the eligible population remits via family and friends only (they have no bank, formal-non bank or informal remittance products).
49.0 percent do not use any remittance products or services.

48. Conclusion
Financial inclusion rate in Namibia has increased between 2011 and 2017, although the increment rate is lower than that of between
Usage of financial products/services;
Majority save their money with formal banks.
Borrowing money is low in Namibia.
Majority do not have/use insurance products/services.
Remittance in Namibia is low.

49. NSA App
For all these statistics, download the NSA Mobile Application.

50. Thank You