Entrepo Finance and Letshego Micro Financial Services each hold 28.4% of Namibia’s N$7.8-billion microlending industry, dominating a market shared by 949 lenders.
This is according to the Namibia Financial Institutions Supervisory Authority’s quarterly report released this week.
The two companies have issued loans worth N$4.4 billion (N$2.2 billion each), leaving N$3.8 billion to be shared among 949 registered microlenders.
The third-largest microlender is Old Mutual Finance, which controls 18.9% (N$1.4 billion) of the industry.
“Collectively, Entrepo Finance, Letshego Micro Financial Services (Namibia), and Old Mutual Finance (term) controlled 75.7% of the industry’s total loans,” Namfisa chief executive Kenneth Matomola says.
In the last three months, Namibians borrowed N$1.5 billion from cash loans.
“Total loan disbursement increased by 4.7% quarterly and 25.6% yearly, reaching N$1.5 billion.
This growth was driven by higher disbursements from both term lenders and payday lenders,” Matomola says.
The average disbursement for term lenders increased to N$33 193. Meanwhile, the average disbursement for payday lenders was N$4 000.
According to the report, the total number of borrowers was 241 400, up 34.0% from the same quarter in 2024, despite a 6.9% decline compared to the first quarter of 2025.
The majority of these were made up of term lender loans, which make up 93% of the total loan book.
The number of new loans issued increased to 179 500, a 1.8% increase in the last three months and a 3.2% annual increase.
Payday lenders made up the majority of the new loan issuance, accounting for 85%, while term lenders issued the remaining 15.0%.
Meanwhile, the size of the non-banking financial institutions sector stood at a total assets of N$502 billion.
This is a 4.2% quarter-on-quarter and 12.3% year-on-year increase.
Pension funds, long-term insurers, and collective investment schemes collectively accounted for over 90% of sector assets.
In an age of information overload, Sunrise is The Namibian’s morning briefing, delivered at 6h00 from Monday to Friday. It offers a curated rundown of the most important stories from the past 24 hours – occasionally with a light, witty touch. It’s an essential way to stay informed. Subscribe and join our newsletter community.
The Namibian uses AI tools to assist with improved quality, accuracy and efficiency, while maintaining editorial oversight and journalistic integrity.
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
