Namibians cut spending, pay down debt and build savings
Despite ongoing cost-of-living pressures, Namibian consumers demonstrated resilience and financial discipline by reducing non-essential spending, paying down debt and strengthening their savings, according to TransUnion’s Q2 2026 Consumer Pulse Study 1 . The study found that households are actively adapting to the rising living costs and higher borrowing expenses while maintaining confidence in their future financial prospects. More than half of the respondents (52%) reported reducing discretionary spending (e.g., dining out, travel, entertainment) in the previous three months. At the same time, 32% said they were paying debt down faster, while 24% reported increasing contributions to emergency savings.
Consumer experiences remained mixed. While 43% of respondents said their financial situation was better than planned at this point in 2026, 45% indicated it was worse than anticipated, highlighting the uneven effects of economic pressures across households. Income trends were similarly varied. Nearly three in ten consumers (28%) reported an increase in income over the previous three months, while 39% said their income remained unchanged. One third (33%) reported a decline in income during the same period. Despite these challenges, optimism remained strong. Nearly three-quarters (73%) of consumers expected their incomes to increase during the next 12 months, while 71% were optimistic about their household finances during that period. The findings suggest Namibians believe their financial wellbeing will strengthen.
“Namibians showed a growing focus on financial resilience as they sought greater control over their household finances,” said Lara Enslin, CEO of TransUnion Namibia. “Consumers are not simply reacting to higher living costs. They are actively adjusting spending habits, reducing debt and building financial safety nets that can help them navigate uncertainty and improve their long-term financial stability.” Consumers Continue to Value Credit as a Tool for Financial Progress Access to credit remains an important part of consumers' financial journeys. In Q2 2026, 89% of Namibians said access to credit and lending products was important for helping them achieve their
financial goals, underscoring the significant role credit plays in supporting everyday needs and future aspirations. For many households, access to credit can help manage unexpected expenses, fund education, support transportation needs and enable important life goals when used responsibly.
Perceptions of credit access remain mixed. More than a third (36%) felt they had sufficient access to credit and lending products, while almost half (46%) felt that they did not. Confidence in approval was similarly balanced as 36% believed they would be approved for new credit if they applied, but 39% didn’t. These findings suggest access to credit is influenced not only by availability, but also by affordability considerations. Nearly half, 46%, of Millennials 2 said they plan to apply for new or refinance existing credit in the next year, up by one percentage point year-over-year (YoY). In contrast, 30% of Gen Z consumers indicated they planned to do so, down 15 percentage points from a year ago, suggesting younger consumers may be taking a more cautious approach to borrowing.
"Consumers are becoming increasingly deliberate in the way they use credit" said Enslin. "For lenders,
this reinforces the importance of understanding each consumer's unique circumstances and using data-
driven insights to support responsible access to credit while effectively managing risk. Consumers Step Up Protection Against Growing Fraud Threats Digital and online fraud remained a significant concern for consumers: nearly two-thirds (65%) of surveyed consumers reported being targeted by email, online, phone call or text message fraud during the past three months, with 10% saying they fell victim to scammers.
Encouragingly, many consumers took steps to protect themselves. Half (50%) of those who said they were notified in the last three months that details about their identities and/or online accounts were stolen reported changing their password on the affected account, while others adopted additional safeguards. These behaviours indicate a growing awareness of digital risk and willingness to act when prompted. However, opportunities remain to improve consumer preparedness. Among those reporting taking no action in the last 60 days in response to cybersecurity concerns, the most common reason for inaction was uncertainty about what actions to take.
“While consumer awareness of digital fraud risks is widespread, education remains critical,” said Enslin. “There is an opportunity to empower consumers with practical, easy-to-follow guidance that helps them confidently protect their identities, personal information and finances in an increasingly digital world.” Consumers can reduce their exposure to fraud by using strong and unique passwords, enabling multi- factor authentication where available, monitoring account activity regularly and remaining cautious when responding to unsolicited messages requesting personal or financial information. Regularly checking credit reports can also help identify any unauthorized changes or new accounts opened. Altogether, the findings in the Namibia Q2 2026 Consumer Pulse Study suggests that consumers are increasingly taking ownership of their financial wellbeing through disciplined spending, use of credit and fraud vigilance.
