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Fitch expects retail spending to strengthen

On the mend: Fitch researchers say local consumers are recovering from the COVID-19 knock and demand for electronics is on the rise 
PIC: PHATSIMO KAPENG
On the mend: Fitch researchers say local consumers are recovering from the COVID-19 knock and demand for electronics is on the rise PIC: PHATSIMO KAPENG

Researchers at credit rating agency, Fitch, have forecast a positive outlook for retail spending in the country, with consumers expected to steadily grow their purchases of consumer electronics such as mobile phones, laptops, and computers.

Fitch is forecasting an average annual growth rate of 13.2% in audio-visual, camera, and computer spending by local consumers over the 2022–2026 period. This will take spending from P2.2 billion this year, to P3.5 billion by 2026.

Similarly, household appliances will also experience strong medium-term growth, averaging 9.1 percent annually over the 2022–2026 period, according to the survey.


Editor's Comment
Get back what was stolen, and lock the door

That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...

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