{"id":21175,"date":"2022-06-02T13:48:44","date_gmt":"2022-06-02T13:48:44","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/private-sector-credit-skips-up-in-april"},"modified":"2022-06-02T14:02:09","modified_gmt":"2022-06-02T14:02:09","slug":"private-sector-credit-skips-up-in-april","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/private-sector-credit-skips-up-in-april","title":{"rendered":"Private sector credit skips up in April"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>CREDIT extended to the private sector grew by 3,8% in April, compared to the same period last year \u2013 with corporate lending recording the highest growth for the month.<\/b><\/p>\n

Compared to March this year, growth is only 2,1%, which is the highest it has reached since last April, when year-on-year growth was 3,7%.<\/p>\n

Analysing the uptick, Simonis Storm Securities analysts say the April increase is slightly good news as it has risen above its six-month moving average of 2,2%.<\/p>\n

Net household debt increased by 2,2% year on year in April, and remains on a declining trend since the start of 2022.<\/p>\n

Net corporate debt increased by 5,9% year on year in April, compared to 1,9% year on year in March 2022.<\/p>\n

This was the highest monthly annual increase since June 2021.<\/p>\n

\u201cThe rise in corporate credit was mainly from an increase in asset-backed credit facilities and other loans and advances by businesses in the commercial rental property, agricultural, transport and health service provider sectors, according to Bank of Namibia,\u201d reads the analysis report.<\/p>\n

Year to date, net growth in household debt has been on a declining trend, with monthly annual growth rates averaging 2,7% for mortgages, 0,3% for overdrafts, and 1,2% for instalment credit.<\/p>\n

Current household and corporate debt is about 80% of 2021’s real gross domestic product (GDP), which is fairly high compared to emerging market peers.<\/p>\n

On the other hand, corporate credit has been trending upwards year to date, with monthly annual growth rates averaging 5,1% for mortgages, -3,7% for overdrafts, and 9,2% for instalment credit.<\/p>\n

IJG analysts say while the recent April increase in corporate credit demand is generally positive, the specific category that drove this increase in April is made up of shorter term debt.<\/p>\n

\u201cShort-term debt is generally used to cover short-term cash needs, and not to expand operations, thus meaning the increase in corporate demand in April is not necessarily an indication of investment in fixed capital, but may be in working capital,\u201d reads their analysis.<\/p>\n

Globally, economists and analysts are asking who would borrow amid such a highly inflationary and uncertain future, but it appears the market continues to respond positively to available credit.<\/p>\n

According to a 2022 private credit extension outlook by LGIM, available credit is largely contested by government securities as governments seek affordable credit.<\/p>\n

In Namibia, the government has also swept the available cash, locking it in short-term bonds mostly.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. CREDIT extended to the private sector grew by 3,8% in April, compared to the same period last year \u2013 with corporate lending recording the highest growth for the month. Compared to March this year, growth is only 2,1%, which is the highest it has reached since last April, when year-on-year growth was […]<\/p>\n","protected":false},"author":84,"featured_media":21174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-21175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nPrivate sector credit skips up in April - Namibia<\/title>\n<meta name=\"description\" content=\"CREDIT extended to the private sector grew by 3,8% in April, compared to the same period last year \u2013 with corporate l ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/private-sector-credit-skips-up-in-april\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private sector credit skips up in April\" \/>\n<meta property=\"og:description\" content=\"CREDIT extended to the private sector grew by 3,8% in April, compared to the same period last year \u2013 with corporate l ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/private-sector-credit-skips-up-in-april\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-02T13:48:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-02T14:02:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/06\/postQueueImg_25.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/private-sector-credit-skips-up-in-april#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/private-sector-credit-skips-up-in-april\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Private sector credit skips up in April\",\"datePublished\":\"2022-06-02T13:48:44+00:00\",\"dateModified\":\"2022-06-02T14:02:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/private-sector-credit-skips-up-in-april\"},\"wordCount\":401,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/private-sector-credit-skips-up-in-april#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/06\/postQueueImg_25.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/private-sector-credit-skips-up-in-april#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/private-sector-credit-skips-up-in-april\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/private-sector-credit-skips-up-in-april\",\"name\":\"Private sector credit skips up in April - 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