Batswana swamped in debt � Microlender

According to Executive Chairman at Bayport Financial Services, Father Maphongo the figures on the level of household provided by the monetary authorities are supported by anecdotal evidence they get from their customers during which they observe certain pointers indicating a degree of indebtedness.

“On average we do come across at least five customers daily having multiple loans that run concurrently and are unable to qualify for our facilities.  When you aggregate the repayments of these loans you begin to realise that the customer is definitely unable to afford an aggregated repayment given their net take home pay,” he said.