Banks credit growth dips to decade low

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Despite interest rates reaching a three-decade low in 2015, banks credit growth slumped to a 10-year low as tight liquidity coupled with poor credit worthiness of customers slowed advances.

According to data availed by the Bank of Botswana (BoB), annual credit growth fell by nearly half from 14 percent in October 2014 to eight percent in October 2015, with decline almost entirely concentrated on corporate borrowing.

Credit growth rate was last below eight percent ten years ago when it reached 7.2 percent in December 2005.

Editor's Comment
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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