Bank Windhoek has provided home loans worth N$226 million in northern Namibia, with Rundu accounting for 109 transactions, contributing N$90 million to the total value in 2024.
Speaking at an event, Bank Windhoek’s Chief Financial Officer and Interim Executive Officer for Specialist Finance, Zenaune Kamberipa, highlighted the bank’s contribution to the region’s real estate sector.
“In 2024, Bank Windhoek financed 281 transactions worth N$226 million in the northern region, with Rundu accounting for 109 of these transactions, contributing N$90 million to the total value,” Kamberipa stated.
He emphasised that real estate extends beyond buying and selling property. “It is about creating opportunities, fostering relationships, and building the future. Northern Namibia is experiencing renewed growth, and estate agents are at the forefront of this transformation,” he said.
Kamberipa also acknowledged the challenges in the industry, particularly the shortage of serviced land.
“One of the biggest concerns in Namibia’s real estate market remains land delivery. The demand for affordable, serviced land continues to outpace supply, making homeownership difficult for many Namibians. The high cost of land, lengthy bureaucratic processes, and limited infrastructure development in key areas create significant barriers,” he said.
Bank Windhoek’s Far North Regional Manager, Elisse Mire Christof, described 2024 as a positive year for the property market. “We credit the collaboration between the estate agents in and around northern Namibia for the growth of the north property finance book,” she said.
Bank Windhoek also revealed that it financed 186 vehicles worth N$13 million in the northern region in 2024.
Christof noted that salespeople’s contributions drive the sector’s success, making vehicle ownership and fleet expansion possible for many individuals and businesses.
“With your support, Bank Windhoek has shown stability, indicating strong and consistent performance. Bank Windhoek has demonstrated its dedication to supporting the motoring industry market in northern Namibia,” she said.
The Far North’s vehicle financing book grew by 111% in Year-on-Year value, comprising 66% new vehicle sales and 34% used vehicle sales.
