Mmegi

Bank arrears top P6bn

Day by day: The construction sector’s arrears to commercial banks are growing PIC: MORERI SEJAKGOMO
Day by day: The construction sector’s arrears to commercial banks are growing PIC: MORERI SEJAKGOMO

Arrears to commercial banks have reached a high of P6 billion in April, with increases in the amounts owed by the construction and manufacturing sectors.

According to recently released Bank of Botswana data, various sectors of the economy, including households, owed commercial banks about P6.1 billion as at April 30. About P1.57 billion of this was classified as “specific provisions” which means arrears that are more than 180 days overdue, regarded as being in the worst category of defaulters.

By comparison, in March, total commercial bank arrears were estimated at P5.8 billion, with specific provisions of P1.56 billion.

Editor's Comment
Consult, get buy-ins first for 6 to 6 policy, Hon Minister

While the minister is of the view that the proposal would have significant positive economic impact, the entertainment industry players believe otherwise. The issue has over the weeks become a hot potato. But what is of essence right now is that the country needs liberal ideas to move in the right direction While opening up the economy may sound quite interesting to the ear, rolling out extended trading hours through pilot programmes without...

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