Despite ongoing cost-of-living pressures, Namibian consumers demonstrated resilience and financial discipline by reducing non-essential spending, paying down debt and strengthening their savings, according to TransUnion’s Q2 2026 Consumer Pulse Study¹.

The study found that households are actively adapting to the rising living costs and higher borrowing expenses while maintaining confidence in their future financial prospects. More than half of the respondents (52%) reported reducing discretionary spending (e.g., dining out, travel, entertainment) in the previous three months. At the same time, 32% said they were paying debt down faster, while 24% reported increasing contributions to emergency savings.

Consumer experiences remained mixed. While 43% of respondents said their financial situation was better than planned at this point in 2026, 45% indicated it was worse than anticipated, highlighting the uneven effects of economic pressures across households.

Income trends were similarly varied. Nearly three in ten consumers (28%) reported an increase in income over the previous three months, while 39% said their income remained unchanged. One third (33%) reported a decline in income during the same period.

Despite these challenges, optimism remained strong. Nearly three-quarters (73%) of consumers expected their incomes to increase during the next 12 months, while 71% were optimistic about their household finances during that period. The findings suggest Namibians believe their financial wellbeing will strengthen.

“Namibians showed a growing focus on financial resilience as they sought greater control over their household finances,” said Lara Enslin, CEO of TransUnion Namibia. “Consumers are not simply reacting to higher living costs. They are actively adjusting spending habits, reducing debt and building financial safety nets that can help them navigate uncertainty and improve their long-term financial stability.”

Consumers Continue to Value Credit as a Tool for Financial Progress

Access to credit remains an important part of consumers' financial journeys. In Q2 2026, 89% of

Namibians said access to credit and lending products was important for helping them achieve their financial goals, underscoring the significant role credit plays in supporting everyday needs and future aspirations. For many households, access to credit can help manage unexpected expenses, fund education, support transportation needs and enable important life goals when used responsibly.

Perceptions of credit access remain mixed. More than a third (36%) felt they had sufficient access to credit and lending products, while almost half (46%) felt that they did not. Confidence in approval was similarly balanced as 36% believed they would be approved for new credit if they applied, but 39% didn’t. These findings suggest access to credit is influenced not only by availability, but also by affordability considerations.

Nearly half, 46%, of Millennials² said they plan to apply for new or refinance existing credit in the next year, up by one percentage point year-over-year (YoY). In contrast, 30% of Gen Z consumers indicated they planned to do so, down 15 percentage points from a year ago, suggesting younger consumers may be taking a more cautious approach to borrowing.

"Consumers are becoming increasingly deliberate in the way they use credit," said Enslin. "For lenders, this reinforces the importance of understanding each consumer's unique circumstances and using data-driven insights to support responsible access to credit while effectively managing risk."

Consumers Step Up Protection Against Growing Fraud Threats

Digital and online fraud remained a significant concern for consumers: nearly two-thirds (65%) of surveyed consumers reported being targeted by email, online, phone call or text message fraud during the past three months, with 10% saying they fell victim to scammers.

Encouragingly, many consumers took steps to protect themselves. Half (50%) of those who said they were notified in the last three months that details about their identities and/or online accounts were stolen reported changing their password on the affected account, while others adopted additional safeguards. These behaviours indicate a growing awareness of digital risk and willingness to act when prompted.

However, opportunities remain to improve consumer preparedness. Among those reporting taking no action in the last 60 days in response to cybersecurity concerns, the most common reason for inaction was uncertainty about what actions to take.

“While consumer awareness of digital fraud risks is widespread, education remains critical,” said Enslin. “There is an opportunity to empower consumers with practical, easy-to-follow guidance that helps them confidently protect their identities, personal information and finances in an increasingly digital world.”

Consumers can reduce their exposure to fraud by using strong and unique passwords, enabling multi-factor authentication where available, monitoring account activity regularly and remaining cautious when responding to unsolicited messages requesting personal or financial information. Regularly checking credit reports can also help identify any unauthorized changes or new accounts opened.

Altogether, the findings in the Namibia Q2 2026 Consumer Pulse Study suggests that consumers are increasingly taking ownership of their financial wellbeing through disciplined spending, use of credit and fraud vigilance.

¹ TransUnion’s Q2 2026 Consumer Pulse Survey of 258 adults in Namibia was conducted in April and May 2026 by TransUnion in partnership with third-party research provider, Dynata.

² Generations were defined in this research as follows: Gen Z, 18–29 years old; Millennials, 30–45

#Ends

Botswana consumers are demonstrating resilience as households navigate rising financial pressures and increasing demands on their disposable income. While many consumers are adjusting spending habits, seeking additional sources of income and taking a more cautious approach to borrowing, they remain optimistic about their long-term financial prospects.

These are among the findings of TransUnion’s Q3 2026 Consumer Pulse Survey¹, which found that while financial pressures have increased over the past year, consumers continued to adapt and remain focused on achieving their long-term financial goals.

Despite increased financial pressure, more than seven in ten consumers (71%) remained optimistic that their household income would increase during the next 12 months. This optimism reflects consumers’ determination to improve their financial circumstances while actively adapting to current economic conditions.

Households Prioritise Essential Spending as Financial Pressures Increase

The study found consumers were experiencing a more challenging income environment than a year prior. The proportion of respondents who reported their household income declined during the previous three months increased from 30% in 2025 to 39% in 2026, while the proportion reporting income growth decreased from 33% to 26%.

At the same time, the percentage of consumers expecting difficulty paying at least one current bill or loan increased from 34% in 2025 to 39% in 2026.

Among those anticipating difficulty meeting financial obligations, the top ways they said they’d pay their current bills and loans were:

• Making partial payments (43%)
• Taking on temporary or gig work to supplement their income (38%)
• Using savings or borrowing from friends or family (both 26%)

Consumers were also becoming increasingly selective about non-essential expenses. Nearly three-quarters (73%) reported cutting back on discretionary spending like dining out, travel and entertainment in the past three months, up 19 percentage points compared to the same quarter in 2025. The proportion of consumers who said they reduced digital services like wireless phones, cable TV or Internet increased from 30% to 39%, while those cancelling subscriptions or memberships rose seven percentage points YoY to 40%.

“What stands out in this quarter’s findings is the determination of Botswana’s consumers to remain financially resilient,” said Kabelo Ramaselwana, CEO of TransUnion Botswana. “Households are making deliberate decisions about spending, looking for opportunities to supplement their income and focusing on maintaining financial stability despite current challenges.”

Access to Credit Remains Relevant, Although Consumers’ Plans Were More Selective

Access to credit continues to play an important role in helping consumers achieve their financial goals. Nearly all respondents (96%) said access to credit and lending products is important to achieve their financial goals, unchanged from 2025. However, confidence in credit accessibility has weakened. The proportion of consumers who believe they have sufficient access to credit and lending products declined from 41% to 36%, while those who said they didn’t have sufficient access increased from 37% to 45%.

Reflecting a more cautious mindset, intentions to apply for new credit or refinance existing credit fell 15 percentage points from the same quarter in 2025 to 25% in 2026. Among respondents who said they plan to apply for new or refinance existing credit, those who said they’ll apply for a new personal loan declined 16 percentage points YoY to 27%, while those planning to apply for a mortgage or home loan fell six percentage points from 30% to 24%.

“The findings suggested that consumers have adopted a more deliberate approach to borrowing,” said Ramaselwana. “While the importance of credit remains high, affordability considerations and confidence in access to credit are increasingly influencing how and when consumers choose to take on new debt.”

More Fraud Victims Despite Fewer Reported Scam Attempts

While fewer consumers reported being targeted by digital fraud compared with last year, fraud remains a significant concern. The proportion of consumers who reported being targeted by email, online, phone call or text message fraud declined seven percentage points YoY to 68% in 2026. However, the proportion reporting they had become victims of digital fraud increased from 6% to 8%.

Among consumers who reported being targeted:

• Phishing attempts increased from 38% to 47%
• Vishing (voice-phishing) attempts increased from 39% to 46%

The findings suggest that fraudsters continue to evolve their tactics across both online and voice channels, including mobile messaging, phone calls and impersonation scams designed to obtain personal and financial information.

Encouragingly, consumers were becoming more proactive in protecting themselves after saying they were notified in the last three months that they were victimised in a data breach. Changing passwords remained the most common response among data breach victims, with 57% doing so, while checking the account for unauthorised activity was the strategy of 52% of consumers – both responses broadly the same as last year. Notably, the proportion of consumers checking their credit reports for signs of fraudulent activity increased significantly from 14% to 23%.

"Botswana's consumers are navigating the current economic environment with resilience and adaptability,” said Ramaselwana. “While households continue to face economic pressures, many are taking proactive steps to manage their finances, strengthen their credit positions and protect themselves against fraud. Consumers who remain informed about their financial health and make thoughtful decisions about credit and spending will be best positioned to benefit from future opportunities as the economy evolves.”

Ends.

¹ TransUnion’s Q2 2026 Consumer Pulse Survey of 183 adults in Botswana was conducted 20 July and 7 August 2026 by TransUnion in partnership with third-party research provider, Dynata.