Cash remains king in local economy
Friday, February 28, 2025 | 530 Views |
Bird in hand: Many consumers still prefer using cold, hard cash PIC: MORERI SEJAKGOMO
The latest data is contained in a Bank of Botswana (BoB) research paper released recently.
Financial data extrapolated from 2011 as a base year shows that Batswana prefer to use cash as a means of transacting goods and services, with the local economy noticing a growing surge in the use of cash, whilst also seeing growth in its other payment forms such as Electronic Funds Transfer (EFT).
Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...