Namibians cautious about their financial situation

Staff reporter



In the last quarter of 2021, Old Mutual conducted its Savings and Investment Monitor Survey. The primary objective of the survey was to better understand the savings behaviour and financial attitudes of working Namibians, with specific reference to the ongoing impact of Covid 19.

Based upon the results, it emerged that a significant number of Namibians faced many financial adversities in 2021. Out of the sample, 58% feared the possibility of losing their job or income while 68% were concerned about their job security. Therefore, it is understandable why 33% of the participants had taken on an additional job or business or done freelance work on the side to supplement their income.

Equally, the results showed that a quarter of those surveyed lived with their parents while 80% said that they had children who are dependent on them. Similarly, a quarter of the participants highlighted that since the emergence of the pandemic they had started financially supporting more people.