By: Justicia Shipena

As the New Year unfolds and individuals set their resolutions for 2024, a familiar trend emerges – the Januworry rush to micro lenders, also known as cash loans.
This annual phenomenon, marked by a surge in loan applications, sheds light on the financial challenges many face at the beginning of the year.
The Namibia Financial Institutions Supervisory Authority (Namfisa) data reveals an interesting trend in the microlending sector.
Despite a quarterly increase in the value of microlenders’ loan books reported in 2022, a year-end comparison for the first quarter of 2021 shows a decline.
Simultaneously, the number of borrowers witnessed a notable 21.4% quarterly rise and a 2% annual uptick, reaching 229,999 beneficiaries.

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