Deposit insurance doubled as most Namibians hold under N$50 000 in savings
February 17, 2026
[PODCAST]
As rising living costs continue to strain households, new figures show most Namibians have N$50 000 or less in their bank accounts. Meanwhile the Namibia Deposit Guarantee Scheme has doubled its insurance coverage from N$25 000 to N$50 000 to boost confidence and protect over 90% of depositors in the event of a bank failure.
Speaking on Desert FM, Petrus Shifotoka from the Namibia Deposit Guarantee Authority explains what the change means for ordinary citizens and how secure their money really is.
