Parly Questions :: Mmegi Online

Question: Wynter B. Mmolotsi Asked the Minister of Finance and Development Planning to explain the financial situation of the National Development Bank (NDB), why the NDB financials for 2013/2014 have not been declared to date, why NDB suspended loans to farmers and whether staff members are ever consulted on the Bank’s financials.

Response: The National Development Bank (NDB) finances high-risk ventures such as agricultural projects and startup businesses, which are very sensitive to natural disasters such as drought, and/or diseases.

In addition, the Bank has equally been adversely affected by reduced economic activity. The impact of these factors is increased in nonperforming loans, which has affected the level of profitability of the Bank. As a result, the Bank is anticipating reporting a loss for the financial year ended March 2014.

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