Mmegi

Household arrears to banks remain stable

Capital central: The Main Mall in Gaborone hosts some of the country's major banks PIC: KENNEDY RAMOKONE
Capital central: The Main Mall in Gaborone hosts some of the country's major banks PIC: KENNEDY RAMOKONE

Arrears owed by households to the country’s commercial banks remain relatively stable, despite tightening economic conditions, the latest data from the Bank of Botswana indicates.

According to the central bank figures, household arrears to commercial banks were measured at P3.89 billion in September, from P3.8 billion in August, indicating stability in the key banking indicator.

Despite the tighter economic conditions, which include slowing employment, layoffs and constrained government spending to SMEs and other key sectors, household arrears have not strengthened as much as expected by most analysts.

Editor's Comment
Our digital safety is in our hands

That sounds like good news. But the report also warns that this may simply be because our digital economy is still young, not because we are safe. As more people shop, bank and pay online, criminals will follow.We Batswana do not need a report to tell us that danger is real. Many of us have heard of or fallen victim to KYC scams. A caller impersonates your bank or mobile money provider. They say they need to “verify” your account. They ask...

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