Only 9.7% of Namibian adults earn more than N$11,000 per month, highlighting the concentration of incomes at the lower end of the economy, according to Cirrus Capital equity analyst Fimanekeni Mbodo.
The income picture is significantly weaker for the majority of the population, with more than 60% of adults earning less than N$2,000 per month, while broad unemployment stands at 54.8%.
Among employed Namibians, only 2.6% earn more than N$40,000 a month, pointing to a relatively small pool of high-income earners.
Mbodo said the figures should inform how Namibia assesses economic progress and the impact of policy on ordinary households.
The income pressures coincide with low levels of financial protection, with the 2025 Namibia Financial Inclusion Survey showing that 67.3% of adults have no insurance of any kind.
“Nearly 70% of adults have no insurance of any kind, so one illness or accident can sink a family. More than 60% of adults earn under N$2,000 a month, and broad unemployment sits at 54.8%,” Mbodo said.
Only 30.9% of adults have or use insurance products and services from formal providers, while another 1.7% rely exclusively on informal insurance mechanisms.
The combination of low incomes and limited insurance coverage leaves households exposed to unexpected financial shocks.
The survey found that 36.5% of adults were affected by rising living costs during the six months preceding the survey, while 27% faced medical expenses resulting from illness in their household or family.
Another 26% experienced a death in the household or family, while 18.9% faced unexpected education expenses and 18.5% reported increased costs associated with additional household members or dependants.
The financial pressures are accompanied by persistent shortcomings in basic living conditions.
Nearly 44% of households have no toilet facility, while 42.7% of urban households live in informal housing, according to Mbodo.
He said these indicators suggest economic policy should be judged against improvements that directly affect household welfare, including job creation, stronger incomes, private-sector investment, financial protection and access to basic services.
