Businesses credit growth jumps

According to figures released by Bank of Botswana this week, business credit growth rose from 10.4 percent to 17 percent in August driven by resident businesses, which went up by P591 million. In the period, household credit growth declined to 12.5 percent in August from 17.3 percent in the previous month. In value terms, household credit fell by P176 million. Despite the softening of households credit growth, individuals still hold the largest share (55.6 percent) of the P43 billion credit extended by commercial banks to both businesses and households.