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Higher interest rates drive bank customer complaints

Peacekeeper: Maotwanyane investigates bank customers’ complaints against banks
Peacekeeper: Maotwanyane investigates bank customers’ complaints against banks

The sharp increase in interest rates last year, as the central bank fought against inflation, not only put pressure on borrowers but also raised the number of complaints filed by bank customers about their loans.

Data from the Banking Ombudsman has revealed complaints that flooded Gabriel Maotwanyane’s office ranged from customers who defaulted on their loans to those who lost their properties after being retrenched.

The Office of the Banking Ombudsman was established by the Bankers Association of Botswana in 2002 to investigate and mediate customer complaints against commercial banks.

Editor's Comment
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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