Household debt crisis nears break point

A leading economist has warned that the high household indebtedness at national level could reach critical mass over Christmas as credit appetites rise and banks capitalise on the 'silly' season.

As at August 2011, Botswana's eight commercial banks are owed P14.5 billion by individuals, P1.29 billion of which is in arrears, including specific provisions.

Most worrying for economists is that of the total debt owed by households, nearly P10 billion is unsecured by assets such as property and motor vehicles.

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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