Business briefs

Bank deposits decrease

Total Deposits held by commercial banks decreased by P416 million in February from P49.48 billion in January to P49.06 billion. By holder, deposits for residents businesses and central government increased by P2 billion and P25 million respectively. In contrast, deposits by non-resident businesses, households and local government fell by P92 million, P2.17 billion and P178 million respectively. In the period businesses accounted for 75 percent of total deposits compared to 20.4 percent for households. This is in direct contrast to the trends in the amount of credit forwarded by commercial banks, which is dominated by households. According to statistics from the Bank of Botswana, the share of credit to the household sector in total credit stands at 57.8 percent.