Credit appetite shoots up among businesses

Businesses snapped up P1.1 billion in loans from commercial banks in June, boosting credit growth to the sector from 13.4 percent to 23.6 percent as the private sector tapped into prevailing low interest rates.

Analysts also told Business Today the jump in credit growth was another sign of post-recession recovery in the economy, following approximately 28 months of depressed credit demand linked to sector-wide collapse.

Bank of Botswana (BoB) statistics released last Friday indicate that credit uptake by the local private sector underpinned a 4.2 percentage point jump in commercial bank credit growth to 18 percent in June 2011.

Editor's Comment
Women unite for progress

It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...

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