The private sector credit extension (PSCE) increased slightly to 4.5% in June from 4.3% in May, with total claims on the private sector reaching N$125.49 billion, according to IJG Securities. IJG revealed that total credit extended to businesses increased by N$903.4 million, lifting the outstanding credit balance to N$53.19 billion and increasing the annual growth to 4.5% year-on-year from 4.4% year-on-year. Meanwhile, credit extended to individuals increased by N$408.8 million, bringing the total stock of household credit to N$72.30 billion, also increasing to 4.5% year-on-year, the strongest expansion since August 2023. Other loans and advances recorded modest monthly growth of 0.5% month-on-month, although annual growth continued to moderate, easing to 4.9% year-on-year from 5.3% year-on-year in May. Annual household credit growth was offset by overdraft balances, which declined by N$45.7 million during the month.