Mmegi Online :: Credit uptake drops among businesses
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Last Updated
Friday 20 September 2019, 16:30 pm.
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Credit uptake drops among businesses

The uptake of commercial bank credit by local businesses fell in August, the second consecutive month the indicator has retreated.
By Mbongeni Mguni Fri 09 Nov 2018, 09:50 am (GMT +2)
Mmegi Online :: Credit uptake drops among businesses








Bank of Botswana data released this week shows that while restrained, credit growth among resident businesses had been marginally rising from the beginning of the year, with total commercial bank loans outstanding to the sector reaching an annual peak of P28.8 billion in June. 

In July, however, the outstanding loans slipped to P22.5 billion and in July, sank further to P22.4 billion. At this latest level, businesses accounted for

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just under 40% of total loans outstanding to commercial banks, compared to 60.2% for households (individual customers). 

As part of its accommodative monetary policy, the Bank of Botswana has kept interest rates at record lows in recent years, in order to stimulate economic activity. 

Critics have said the policy is not being efficiently transmitted to its intended targets due to other competing challenges in the local macro-economy.

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