In 2023, the banking sector saw a 6% growth in Namibia, observed in the cash and balances with banks, advances and net loans, short-term negotiable securities and, trading and investment securities.¹⁷ The non-banking financial sector reported a 15% growth rate,¹⁸ fuelled by the positive performance in the financial markets.¹⁹ Despite the sluggish growth in mortgage extension in 2023, the sector still reported an improvement, even though investor confidence in property investment was challenged by conservative lending practices by banks, high interest rates, and sluggish job creation.²⁰

Approximately 71% of Namibian adults had an account of some sort in 2021, 66% with a financial institution, well above the Sub-Saharan average. Only 23.4% borrowed formally, however, including using a credit card, though again this was above the Sub-Saharan African average. Almost 60% borrowed from family or friend or a savings club.²¹

Demand for micro lending services has increased, which is shown by the higher level of disbursements. Disbursements rose by 33.7% year-on-year at the end of 2023, reaching a total of N$994.5 million (US$55 million). Total arrears, however, reached N$1.5 billion (US$83 million) in the fourth quarter of 2023 or 21% of total loan book value, indicating “the potential risk of borrowers struggling to repay their loans.”²²

Mortgage loans reportedly dominate banking sector loans, and residential housing finance represented 68% of household debt in 2023. Non-performing loans rose from 5.6% in 2022 to 5.9%. The increment was attributed to other loans and advances (20%), credit cards (16%), overdrafts (5%); mortgage loans (7%) and personal loans (5.3%).²³

Namibia has seven banks²⁴ and of the seven, Standard Bank,²⁵ First National Bank²⁶ and Nedbank²⁷ offer mortgage refinancing. First Capital Namibia²⁸ and Ongos Valley’s Cadence Building Society²⁹ are the only non-bank mortgage financiers in the market. First Capital only offers home loans³⁰ with an 11.75% loan interest rate and only offers loans to civil servants with a loan value ranging between N$850 000 (US$47 039) and N$1.5 million (US$83 011).³¹ The Cadence Building Society is still in the process of securing its building society licence³² but when it does, it will raise funds through public deposits, the sale of shares and member subscriptions to construct, purchase and improve property.³³

Namibia only has two registered credit bureaus, namelyTransunion Credit Bureau and Experian Credit Reference Bureau.³⁴ The credit bureaus collect and disseminate credit performance information to interested parties who provide financing to consumers.³⁵ This information assists underwriters in their assessment of a client’s capacity to afford a product premium or loan repayment.³⁶ Financial institutions may request a client’s proof of income, which has the effect of excluding poorer clients from the housing market because many are informally employed and therefore lack documentary evidence of a proof income.³⁷ With mortgage underwriting, financial institutions ensure that the property mortgage instalment amounts to a third of a mortgage applicant’s income.³⁸ Underwriters consider the client’s credit and insurance history, the sale agreement provided, the location and security features of the property to determine the premium.³⁹ Mortgage underwriters also consider the bank’s interest, i.e. how the bank would benefit as per the terms stipulated in the cession of the sale agreement.⁴⁰

Construction finance is offered by the four main commercial banks (Nedbank,⁴¹ Standard Bank,⁴² FNB,⁴³ Bank Windhoek⁴⁴), where buyers acquire vacant land and require financing for house construction. Namibia has a bond market with securitisation⁴⁵ which allows mortgage-backed securitisation.⁴⁶ This means that financiers take the debt owed to them or the promised future cashflow from the debt owed and repackage them as products (i.e., traded securities) that investors can invest in and earn interest from.⁴⁷ To achieve this, however the residential loans underlying mortgage-backed securities ought to meet strict requirements to ensure that only good quality assets are securitised.⁴⁸

In Namibia an estimated 30 000⁴⁹ housing units would need to be constructed annually by 2030 to meet demand and 88%⁵⁰ of households in Namibia fall under the ultra-low and low income groups requiring adequate housing. Though rentals are popular in urban centres, property ownership is perceived as the ideal, which is evident in the volume of low density single use construction permits granted by local authorities.^{51, 52} Also the youth unemployment rate is 46% and 58% of the employed population works in the informal sector. ^{53, 54} This implies a higher demand for informal market rentals, because that 58% of the employed population would not have documentary proof of income to buy property and cannot afford rentals in the formal rental market.

In Namibia, the cost of property varies between N$866/m2 (US$48) (central region) and N$576/m2 (US$32) (coastal region).⁵⁵ The cost of an average property then ranges between N$865 000 (US$47 869) and N$1.5 million (US$85 778) depending on region.⁵⁶ In addition to the amended LTV ratio (allowing first-time property buyers a 100% LTV ratio),^{57, 58} the exemption bracket on transfer and stamp duty costs were adjusted up from N$600 000 (US$33 204) to N$1.1 million (US$60 874) to improve access to housing.⁵⁹

According to the July 2024 National Consumer Price Index, housing, water, electricity and transport accounted for 28.4% of the consumer basket. The annual inflation rate for this category was 3.6% during June 2024 compared to 2.8% in June 2023. The annual inflation rate overall was 4.6%.⁶⁰

The 2023 Quarter 4 FNB housing price index report indicates the overall average national house price stands at N$1.2 million (US$66 408).⁶¹ A prospective buyer would need to earn N$36 000 (US$4 731) a month to qualify for a mortgage to finance a property worth N$1 million (US$55 340).

In Namibia the urban housing typologies vary from detached low density monofunctional brick houses to inner city medium-density dwellings.⁶² Most informally constructed dwellings are built with corrugated iron or zinc.⁶³ Affordable housing initiatives supported by the state include the Massive Urban Land Servicing Programme of 2017 which serviced 2061 urban erven,⁶⁴ the Informal Settlement Upgrading Programme in collaboration with the National Housing Enterprise and the City of Windhoek that started in 2019, which delivered 634 houses⁶⁵ and the ongoing Shack Dweller Federation housing initiative which constructed an estimated 10 000 houses.⁶⁶

The informal rental market is based in the lower income suburbs surrounding the informal settlements. The rental property stock comprises a formally built structure surrounded by self-built structures occupied by tenants with or without the landlord domiciled.⁶⁷ The properties are privately owned and rented out to the public.⁶⁸ An example of the informal rental market, is where the landlord received some form of right to the stand and now rents it out to other migrants. ⁶⁹ The tenancy agreements would mostly be verbal, exposing tenants to the mercy of landlords.⁷⁰ Backyard shack renting is not associated with housing type or occupier attributes, but rather driven by the demand for affordable housing by the low and ultra-low income groups that migrate in search of employment opportunities.⁷¹ An example would be a typical property in an ultra-low income suburb on the fringe of the city, where they are mushrooming. The property would have four shack dwellings built to generate rental income for the property owner, and many other properties in the suburb would have the same.⁷²

The 2018 Afrobarometer study reported that 51% of the informal settlements in the country had access to piped water, 39% had access to a sewage system and 47% had access to a toilet in their yards.⁷³ Namibia still imports all its building materials.⁷⁴ According to the March 2024 First Capital building index report, construction costs for a standard three-bedroom house range from N$301 000 (US$16 657) to N$318 000 (US$17 598).⁷⁵ Labour costs for the same standard structure range between N$121 000 (US$6 696) and N$129 000 (US$7 139).⁷⁶

Article 16 of the Namibian Constitution allows any person, male or female the right to own property.⁷⁷ Namibia has one central deeds registry that came into force on 21 April 2021, when the previous registry acts were repealed.⁷⁸ In Namibia, 8% of the title deeds are issued to women.⁷⁹ The deeds registry process is semi-digitised and the system has been offline since 2022, meaning that the processing of property transfers and or acquisitions is more difficult than it should be.⁸⁰ Property transfers take an estimated four to six weeks to process⁸¹ and the cost may vary from 1% to 12% of the property sale value and whether the property transfer is to a natural person or a juristic entity.⁸²

There is a robust residential resale market that is heavily affected by high interest and inflation rates, together with high indebtedness at 86% disposable income in households.⁸³ Quarter four of 2023 showed a 3% growth in household mortgages in the year, while transaction volumes dropped by 19.1%.⁸⁴

According to the Estate Agents Board Act, only persons registered by the Estate Agents Board and have passed the board exam may offer and trade in real estate services.⁸⁵

The Namibian government tries to create an enabling environment for the provision of affordable housing. The Ministry of Urban and Rural Development recently concluded its review of the National Housing Policy and implementation Plan which was approved by Cabinet in November 2023.⁸⁶ The document discusses a multi-pronged approach to the housing challenge in Namibia with a special emphasis on providing assistance to the low and ultra-low income group populations in urban areas across the country.⁸⁷ The policy introduces additional subsidies and a framework through which housing would be availed to all segments of the market.⁸⁸

Another development was the Property Practitioners Bill which was tabled in Parliament on 12 June 2024.⁸⁹ The bill extends the mandate of property practitioners to include property developers, property auctioneers and property managers; provides for the establishment of a property practitioner regulatory authority and for the protection of consumer funds from theft by practitioners.⁹⁰

The Consumer Credit Bill aims to equip credit consumers with the knowledge of how to manage financial services as well as to protect them from market abuse.⁹¹ The bill moves away from the punitive Usury and Credit Agreements Act and intends to establish an enforcement department that would redress the power imbalance between consumers and credit providers.⁹² The bill also intends to provide a standardised system for debt collection enforcement, dispute resolution and credit information reporting.⁹³

The Financial Institutions and Markets (FIMA) Bill was drafted to replace the outdated Pension Fund Act.⁹⁴ The aim of FIMA is to fill gaps in the current legislation, as well as, to transform, merge and harmonise the laws governing nonbank financial institutions, capital markets and financial intermediaries.⁹⁵ The Pension Fund Act enables access to 25% of a consumer’s pension fund, which can be used for property acquisition. So far the state-owned Government Institutions Pension Fund has agreed to grant its clients access to pension-backed home loans.⁹⁶ This allows aspiring and existing homeowners to use their pension fund balance as security when applying for a mortgage loan.⁹⁷ This offering is unfortunately only limited to civil servants and is not available to citizens employed in the private sector.

At present, Namibia does not have its own building standards. The National Housing Policy however mentions that the Namibian Standards Institution (NSI) should certify safe and feasible local building materials for the products to become commercially financeable.⁹⁸ The NSI will therefore also be driving the development of building standard regulations and will include renewable energy materials, water efficient construction and sustainable and alternative building materials, to benefit both the Namibian environment and future building materials suppliers.⁹⁹

With Namibia being a forerunner of Green Hydrogen production¹⁰⁰ and the recent offshore oil discoveries,¹⁰¹ more accommodation will be required for investors, businesspeople and employees.¹⁰² Management of housing stock price positioning is critical to avoid another housing market bubble from occurring as happened in 2014. Construction of housing stock should not be limited to enclave-style developments, and developers should also consider social amenities such as educational facilities (pre-primary to tertiary), medical health facilities, shopping facilities (scaled at the size of the town), cemeteries and parks.

Now that the revised National Housing Plan has been launched, developers can propose mixed-use developments that include properties earmarked for special needs housing, social housing, incremental housing, rental housing and rent-to-own housing developments. Investors can also consider investing in informal settlement upgrading exercises by means of private public partnerships with the local authorities.¹⁰³ The National Housing policy also refers to opportunities such as credit guarantee schemes and housing microfinance for informal income earners.¹⁰⁴

Namibia is positioned to start producing the cheapest green hydrogen in the world and to potentially tap into 10 million metric tons to meet the global demand for green hydrogen.¹⁰⁵ Production is estimated to start in 2025, and for the delivery the green hydrogen to be made possible, a great deal of infrastructure is necessary, i.e., pipelines, storage facilities, specialised ships and trucks.¹⁰⁶ Trade artisans will be needed to create the equipment, machinery and infrastructure required for production and consumption both nationally and internationally.¹⁰⁷ Legislation to inform the conduct of professions and businesses is missing at present. The sector also needs professionals to offer products and services to improve efficiencies in the production and delivery of green hydrogen in the market.¹⁰⁸

In the oil sector, the opportunities are in both the upstream and downstream sectors. As the newest market entrant, Namibia is in the nascent stage of development of downstream opportunities. Here, the retailing of commodities such as natural gas (LPG), oil, and petroleum products like lubricants will entail storage facilities, logistics management, clearing and forwarding, mixing and blending storage, and oil refinery construction.¹⁰⁹ Training and upskilling human resources are another opportunity.

Another sector on the rise is the agriculture. As a country reliant on importing 97% of its food from South Africa, the gaps in Namibia are in agro-processing, agricultural financing, fruit farming, grain farming and their respective auxiliary services.¹¹⁰ Additional investment will be needed in equipment design and production, training of farmers. From a funding perspective, a key opportunity may be the availability of financiers with tailor-made and perhaps context-based funding. Another opportunity is production of high-quality seeds and seedlings.¹¹¹ The challenges investors can expect are the inconsistent climate conditions and limited affordable green and or smart solutions for farming in Namibia.¹¹²

All commercial banks gather and provide reports on housing finance to the Bank of Namibia, which subsequently reports on the financial stability of the country on a quarterly basis. However, the reports comprise macrodata and do not include data on gender and property ownership. The Namibia Statistics Agency also reports on census data, which includes housing, basic services and housing stock material – however, this is collected every decade.¹¹³ Another key source of housing data is the Deeds Registry office. However, as is common practice in civil service, information sharing is not readily available to the public. A new source of housing information would be the Namibia Housing Information System, but access to the data portal is limited to regional council and local authority staff who collect and upload data on land use, informal settlements and the housing stock in their respective towns and regions.¹¹⁴ This information allows a systems oversight of the planning and effective management of housing demand and supply, as well as the interventions and their subsequent monitoring and evaluation at local, regional and national level.¹¹⁵

The National Housing Enterprise has rental housing projects in both Windhoek and Eenhana.¹¹⁶ Rentals in the apartment blocks vary from studio to two-bedroom flats. In Windhoek the rentals are priced from N$3 015 (US$396) (for a 30.1m2 studio flat to N$6 685 (US$878) for a 73.1m2 two-bedroom flat,¹¹⁷ while in Eenhana the rentals cost N$1 500 (US$197) for a 29m2 studio flat and N$3 500 (US$460) for a 53m2 two-bedroom flat).¹¹⁸ These are the cheapest property rentals one can find in the affordable housing market.

Though owned by the National Housing Enterprise, the construction was undertaken by developers following an open bidding procurement process.¹¹⁹ The properties are located in low-income suburbs, which speaks to the intention to provision medium density affordable housing to the market stock.¹²⁰ The challenge with accessing these properties is that tenants are still required to provide proof of income in some manner as a guarantee of affordability to the property developer/manager or estate agent.¹²¹

Namibia Statistics Agency: https://nsa.org.na/
Bank of Namibia: https://www.bon.com.na/
Namibia Financial Institutions Authority: https://www.namfisa.com.na/
Ministry of Urban and Rural Development: https://murd.gov.na/
Namibia Housing Enterprise: https://www.nhe.com.na/

1.  Namibia Statistics Agency (2024). https://nsa.org.na/ (Accessed 29 August 2024).
2. World Bank (2021). Population density (people per sq. km of land area) – Namibia.
3. UNFPA (2024).Youthful population dominates Namibia’s 2023 Census Preliminary Results: 71.1% of population is under age 35. 18 March 2024.
4. Ministry of Urban and Rural Development (2023). National Housing Policy (2nd Revision). https://tinyurl.com/2ajpck4k (Accessed 6 July 2024). Pg. 19.
5. UNICEF (2021). Namibia Multidimensional Poverty Index Report. https://www.unicef.org/esa/media/9041/file/
   UNICEF-Namibia-Multidimensional-Poverty-Index-2021.pdf (Accessed 6 July 2024). Pg. 12.
6. Haoses, Michelle (2024). FNB house price index indicates stagnant average growth. 12 April 2024.The Economist Namibia. https://tinyurl.com/3sfxuu6e (Accessed 28 August 2024).
7. Bank of Namibia (2024). Monetary Policy Statement. 14 August 2024. https://tinyurl.com/4exvw8j4 (Accessed 29 August 2024). Pg. 1.
8. Bank of Namibia (2023). Financial Stability Report. https://tinyurl.com/3xpwm9p2 (Accessed 7 July 2024). Pg. 37.
9. Ibid. Pg. 36.
10. Ibid. Pg. 37.
11. Bank of Namibia (2024). March 2024 Economic Outlook Update. https://tinyurl.com/yh8ff2x7 (Accessed 6 July 2024). Pg. 3.
12. Ibid. Pg. 8.
13. Ibid. Pg. 11.
14.  Tjitemisa, K. (2022). LPM Counts out Coalitions in 2024. 25 November 2022. New Era.
15. Wickham, B. (2023). SDFN and partners hand over 57 houses to low-income families in Gobabis. 20 April 2023. Namibia Daily News.
16. Terblanche, N. (2024). Swakopmund and NHE unite to tackle housing crisis. July 2024. Windhoek Observer.
17. Bank of Namibia (2024) Financial Stability Report. https://tinyurl.com/3xpwm9p2 (Accessed 29 August 2024). Pg. 45.
18. Ibid. Pg. 63.
19. NAMFISA (2023). 2023 Quarterly Report. Fourth Quarter. https://www.namfisa.com.na/wp-content/uploads/
    2024/05/NAMFISA_QR4_2024_26-April-2024-AMMENDED.pdf (Accessed29 August 2024) Pg. 8.
20. See footnote 17. Pg. 33.
21. World Bank (2022). From Global Findex Database – The Little Data Book on Financial Inclusion. Pg. 94.
22. See footnote 19. Pg. 35.
23. See footnote 17. Pg. 45.
24.  Bank of Namibia (2024).The Banking System of Namibia. https://tinyurl.com/yz6hnb8w (Accessed 14 July 2024).
25. Nedbank (2024). Revolving Credit Plan. https://tinyurl.com/3tnf3x4n (Accessed 14 July 2024).
26. First National Bank (2024).Additional Finance https://www.fnbnamibia.com.na/loans/home-loans/accessingFunds.html (Accessed 14 July 2024).
27. Nedbank (2024). Readvance on your existing loan. https://www.nedbank.com.na/content/nedbank-namibia/
    desktop/na/en/personal/borrow/home-loans.html (Accessed 14 July 2024).
28. First Capital (2024).Home Loans. https://firstcapitalnam.com/home-loans/# (Accessed 14 July 2024).
29. The Brief (2023). OngosValley Secures Building Society Licence. 20 February 2023. https://thebrief.com.na/2023/02/ongos-valley-secures-building-society-license-from-bon/ (Accessed 14 July 2024).
30. See footnote 28.
31. Ibid.
32. The Brief (2024). BoN extends OngosValley’s provisional building society licence. 17 June 2024. https://thebrief.com.na/2024/06/bon-extends-ongos-valleys-provisional-building-society-licence/ (Accessed 14 July 2024).
33. Ibid.
34. See footnote 24.
35. Ibid.
36. FNB Namibia (2023). Homeowners Book. https://tinyurl.com/mr37ebea (Accessed 4 September 2023).
37. Telephonic interview with Ms Shiyukifeni, Old Mutual Namibia on 6 September 2023,Windhoek, Namibia.
38. FNB. Home Loan Qualifying Criteria. https://www.fnbnamibia.com.na/loans/home-loans/homeLoan.html (Accessed 1 September 2023).
39. See footnote 37.
40. Ibid.
41. Nedbank (2024). Building Loan Requirements. https://tinyurl.com/mr3c2eru (Accessed 17 August 2024).
42. Standard Bank (2024). Financing your dreams. https://www.standardbank.com.na/namibia/personal/products-andservices (Accessed 17 August 2024).
43. FNB (2024). Building Loan. https://www.fnbnamibia.com.na/loans/home-loans/buildingLoan.html (Accessed 17 August 2024).
44. Bank Windhoek (2014). Building Loan. https://tinyurl.com/4uxhndc7 (Accessed 17 August 2024).
45. Bank of Namibia (2019). Determination under the Banking Institution Act, 1998, as amended: Securitisation Schemes. https://www.lac.org.na/laws/2019/7066.pdf (Accessed 21 July 2024). Pg. 6.
46. Ibid. Pg.17.
47. Stuart I. Greenbaum, AnjanV.Thakor and Arnoud W.A. Boot (eds) (2016). Ch. 11. Contemporary Financial Intermediation. https://doi.org/10.1016/B978-0-12-405196-6.00011-2 (Accessed 29 August 2024).
48. See footnote 45. Pg. 17.
49. See footnote4. Pg. 16.
50. Ibid. Pg. 15.
51. Shoonga, R., Gumbo,T., and Makoni, E. (2021). Land Development Processes and Property Rights: Bottom-up and Top-Down Approaches. https://index.ieomsociety.org/index.cfm/article/view/ID/1191 (Accessed 31 July 2024).
52. Namibia Statistics Agency (2024). Buildings Completed February 2024. https://nsa.org.na/wp-content/uploads/2024/06/Buildings-Completed_February-2024.pdf (Accessed 21 July 2024).
53. Mpako,A. and Ndoma, S. (2024). Namibian youth demand that government make job creation a top priority. 23 February 2024. Afro Barometer.
54. See footnote 4. Pg. 20.
55. See footnote 6.
56. Ibid.
57. Bank of Namibia (2023). New Home Loan Regulations. https://tinyurl.com/4tersr89 (Accessed 30 August 2024). Pg. 1.
58. See footnote 8. Pg. 37.
59. Sherbourne, R. (2024). Briefing Paper: Namibia’s National Budget 2024/25. https://ippr.org.na/wp-content/
    uploads/2024/03/Namibias-National-Budget-2024_25-web.pdf (Accessed 13 September).
60. NSA (2024). July 2024 National Consumer Price Index. https://nsa.org.na/wp-content/uploads/2024/07/NamibiaCPI-bulletin_-June-2024-1.pdf (Accessed 18 August 2024). Pg. 6.
61. See footnote 55.
62. See footnote 54. Pg. 20.
63. Weber, B. and Mendelsohn, J. (2017). Informal Settlements in Namibia:Their Nature and Growth. https://www.raison.com.na/sites/default/files/Informal-Settlements-in-Namibia-Book-Web.pdf (Accessed 21 July 2024). Pg. 25.
64. See footnote 4. Pg. 20.
65. Ibid.
66. Ibid.
67. See footnote 63.
68. Chigbu, U. (2021). ‘Shack Life’ in the words of a Windhoek Taxi Driver. 12 November 2021.The Namibian.
69. New Era (2020). City Registers Informal Settlement Homeowners. 12 March 2020.
70. New Era (2020). Landlord evicts family for not paying rent. 14 April 2020.
71. Neliwa,T. (2019). Investigating Benefits of Renting our Backyard Shacks in Kuisebmond,Walvis Bay (Namibia). Pg. 15.
72. See footnote 68.
73. Tjirera, E. (2018). Providing Basic Public Services Remains a Challenge for Namibia’s Government. 22 May 2018. Afro Barometer. 4-5.
74. First Capital Namibia (2023). First Capital Building Cost Index. June 2023. https://firstcapitalnam.com/wpcontent/uploads/2023/08/Building-Cost-Index-June-2023.pdf (Accessed 31 July 2024).
75. Ibid. Pg. 15.
76. Ibid. Pg. 15.
77. Government of Namibia (2014). Namibian Constitution Third Amendment Act. https://www.lac.org.na/laws/annoSTAT/Namibian%20Constitution.pdf (Accessed 18 August 2024). Pg. 18.
78. Government of Namibia (2021). Deeds registry Act 14 of 2015. https://tinyurl.com/d53vmw6j (Accessed 31 July 2024). Pg. 1.
79. DHS (2013). Percentage of women who own a house. https://dhsprogram.com/data/Guide-to-DHSStatistics/index.htm#t=Ownership_of_Assets.html (Accessed 18 August 2024).
80. The Economist Namibia (2022). Deeds Registration System Down. 20 July 2022.
81. The Brief (2022) How a property is transferred in Namibia. 2 September 2022.
82. Interview with Silke Ahrens. Engling, Stritter and Partners. 31 July 2024.Windhoek, Namibia.
83. See footnote 6.
84. Ibid.
85. Government of Namibia (1976). Estate Agents Act 112 of 1976. https://www.lac.org.na/laws/annoSTAT/
    Estate%20Agents%20Act%20112%20of%201976.pdf (Accessed 31 July 2024). Pg. 3-4.
86. Kaure,A. (2023). Revised National Housing Policy and Implementation Plan Approved by Cabinet. The Economist Namibia.
87. See footnote 4. Pg. 23.
88. Ibid. Pg. 30.
89. Namibia Estate Agents Board (2024).Tabling the Property Practitioners Bill in Parliament. 11 June 2024.
    https://www.neab.co.na/post/the-occasion-of-tabling-the-property-practitioners-bill-in-parliament-11-june-2024 (Accessed 31 July 2024).
90. Hamupembe, J. (2022).The Property Practitioners Bill – Who it applies to. 9 December 2022.The Brief.
91. Sheehama, J, K. (2023). Proposed Consumer Credit Draft Bill:What does it mean for Namibians? The Economist Namibia.
92. Ibid.
93. Institute for Chartered Accounting in Namibia (2023). Consumer Credit Bill: Short Summary. https://tinyurl.com/mr3zchjt (Accessed 2 August 2024). Pg. 1.
94. Government of Namibia (2021). Financial Institutions and Capital Markets Bill. https://www.namfisa.com.na/wpcontent/uploads/2021/04/Financial-Institutions-Markets-2021.pdf (18 August 2024). Pg. 2.
95. Ibid. Pg. 393-402.
96. Nashima, S. (2023) Amupanda happy with GIPF pension-backed home loans. 5 July 2023.Windhoek Observer.
97. Matthys, D. (2023).Thumbs Up for GIPF pension-backed housing plan. 5 July 2023.The Namibian.
98. See footnote 4. Pg. 37.
99. Ibid.
100. Windhoek Observer (2024). Belgian Investment Sets Namibia on its way with Green Hydrogen Production. May 2024
101.  Reuters (2024). Oil Exploration Boom in Namibia. 21 June 2024.
102. Prins, B. (2024). Lüderitz Housing Crisis Looms as Demand Surges. 14 June 2024. The Namibian.
103. See footnote 4. Pg. 32-33.
104. Ibid. Pg. 34.
105. Green Hydrogen Organisation (2024). Gh2 Country Profile. https://gh2.org/countries/namibia (Accessed 30 August 2024).
106. Ma, N., Zhao,W.,Wang,W., Li, X., and Zhou, H. (2024). Large Scale of Green Hydrogen Storage: Opportunities and Challenges. https://www.sciencedirect.com/science/article/abs/pii/S0360319923045883 (Accessed 30 August 2024).
107. Ndjavera, M. (2024). Prepare for Oil Opportunities – Shiimi. 18 March 2024. New Era. 
108. See footnote 105.
109. NIPDB (2024). Oil and Gas Profile. https://nipdb.com/wp-content/uploads/2022/12/Namibia-Sector-Profile-Oil-_-
     Gas.pdf (Accessed 30 August 2024).
110. Endjala, M. (2023). Namibia relies heavily on SA for Food.August 2023.Windhoek Observer.
111. Nakashole, P. (2024). Namibia cannot rely on importation of seeds for staple food crops – Khomas governor. 13 June 2024.The Namibian.
112. Namibia Agronomic Board and World Food Programme (2024). Namibia celebrates food self-sufficiency. 5 April
     2024. https://www.nab.com.na/wp-content/uploads/2024/04/05-04-2024-PRESS-RELEASE-Importsubstitution.pdf (Accessed 31 August 2024).
113. Namibia Statistics Agency (2023). Preliminary Census Report. https://nsa.org.na/document/2023-populationhousing-census-preliminary-report/ (Accessed 6 July 2024).
114. See foonote 4. Pg. 26.
115. Ibid.
116. National Housing Enterprise (2024). Renting Options. https://www.nhe.com.na/renting-options/ (Accessed 5 August 2024).
117. National Housing Enterprise (2024). Rental Housing – Goreangab. https://www.nhe.com.na/rental-housinggoreangab/ (Accessed 5 August 2024).
118. National Housing Enterprise (2024). Rental Housing – Eenhana. https://www.nhe.com.na/rental-housing-eenhana/ (Accessed 5 August 2024).
119. See footnote 51. Pg. 32.
120. National Housing Enterprise (2024). Requirements to Buy https://www.nhe.com.na/requirements-to-buy/ (Accessed 5 August 2024)