TransUnion’s Q2 2025 Consumer Pulse Study shows that 71% of Namibians felt financially hopeful, with 78% expecting their income to rise in the coming year- 44% expect to be unable to pay their current bills or loans in full – five percentage points less than one year ago
- More than half (57%) of Namibians were targeted by fraud, but didn’t fall victim
Windhoek, Namibia – September 18, 2025. More than seven in ten Namibians (71%) said they were feeling optimistic about their household finances for the coming year, with 78% expecting their income to increase in the next 12 months. One in four (26%) reported an increase in income in the preceding three months, while 41% said that their finances were better than planned. Gen Z consumers (aged 18-28) were the most hopeful group, with 76% feeling optimistic about their finances, and 81% expecting their incomes to increase in the next year.
These were some of the findings of the TransUnion Consumer Pulse Study for Q2 2025* which also found that Namibian households had faced some financial setbacks, with 30% or respondents reporting that they had lost jobs – five percentage points more than the same quarter in 2024. Additionally, 17% said a household business had closed or lost orders and 16% experienced wage or salary reductions.
On the upside, 16% indicated someone in their household had started a new business, 15% reported salary increases and 11% started a new job. In terms of financial behaviour, 25% of consumers paid down debt faster and 23% saved more in an emergency fund.
When it comes to macroeconomic influences on their financial wellbeing, Namibian consumers listed inflation, job security and house prices as their leading concerns.
Overall, 75% of consumers listed inflation as one of their top three financial concerns followed by housing prices (rent or mortgage) at 64% and job losses at 55%. Possibly due to these concerns, 53% of consumers indicated they cut back on discretionary spending (dining out, travel, entertainment) in the past three months, 28% cancelled subscriptions or memberships, and 27% cancelled or reduced
digital services (e.g., wireless, cable TV, internet).
In Q2 2025, 44% of respondents expect to be unable to pay their current bills and loans in full, a five-percentage-point reduction from the previous period. Among them, 35% planned to take on gig work, 33% said they would borrow from friends or family and 32% would make partial payments. These responses reflect not only ongoing financial pressure but also a strong sense of adaptability and resourcefulness among consumers.
“Namibian consumers are demonstrating remarkable resilience and optimism in the face of economic challenges, while prioritising essential expenses and actively trimming non-essential costs to maintain financial stability,” said Lara Enslin, CEO of TransUnion Namibia. “As access to credit and digital trust become increasingly vital, it’s clear that empowering consumers with the right tools and protections will be key to sustaining this resilience.”
Namibians Believe Credit Can Help Achieve Their Financial Goals
In Q2 2025, 95% of respondents considered access to credit important, yet only 33% felt they had sufficient access. Looking ahead, 45% planned to apply for new or refinance existing credit within the next year. Among these, 33% planned to apply for a new student loan, 31% intended to apply for a new personal loan, and 23% planned to refinance a personal loan — marking an eight-percentage-point increase from Q2 2024.
Nearly half (46%) of respondents considered applying for credit or refinancing but ultimately chose not to proceed. The main reasons were concerns about being rejected due to income or employment status (30%) or credit histories (28%), while 29% abandoned their applications simply because they no longer needed the credit.
Rising interest rates also shaped consumer credit behaviour. A significant 48% of respondents said interest rate hikes had a major influence on their decisions to apply for credit — while another 31% reported moderate impact. These trends underscore a growing sensitivity to economic conditions.
“Consumers’ sentiment about access to credit highlights a gap between the importance of credit access and consumer confidence, pointing to a need for more inclusive lending,” said Enslin.
Namibians Concerned About Fraud
Namibia was affected by various fraud attempts. The survey revealed 47% of users cited identity theft as a major barrier to adopting new digital technologies — while 45% expressed concerns about cybersecurity threats.
Credit card/payment fraud (59%), stolen identity (54%) and data breaches (31%) were the cyber threats that most concerned surveyed consumers. In turn, identity attack methods that concerned consumers the most included falling victim to fake social media profiles (61%), personal information exposed in data breaches (59%), email phishing (45%) and viruses or malware (41%).
In Q2 2025, 57% of consumers reported being targeted by fraud attempts through online platforms, emails, phone calls or text messages but did not fall victim; 8% of respondents said they were both targeted and scammed. Middle-income consumers were particularly affected as 66% reported fraud attempts. Overall, the most common types of scams included money/gift card scams (37%), vishing (fraudulent phone calls meant to trick users into revealing data) at 33%, phishing (fraudulent emails, websites, social posts, QR codes, etc. meant to steal data) at 29%, and smishing (fraudulent text messages meant to trick users into revealing data) at 25%.
“Namibian consumers continue to display resilience following the country’s economic contraction in Q1 2025,” said Enslin. “Managing their credit effectively and taking steps to prevent fraud will see Namibians benefit from the country’s anticipated growth.”
Consumers can find out more about their credit report from TransUnion here.
