Private sector credit slowed in 2017

Contributed by NAMPA.

WINDHOEK, 14 FEB (NAMPA) – The average annual private sector credit extension (PSCE) slowed significantly in 2017.
The PSCE stood at 6.6 per cent in 2017, lower than the 11.4 per cent recorded in 2016.
Bank of Namibia (BoN) Governor Ipumbu Shiimi said during the first Monetary Policy announcement for 2018 here on Wednesday, the slower growth in PSCE was due to reduced growth in credit advanced to both the household and corporate sectors.
This was especially in the form of mortgage and inst ...