Household debt to banks tops P55bn

Household borrowing, the main revenue driver for commercial banks and a bellwether of economic activity, has been growing steadily, supported by the Bank of Botswana (BoB) cuts in interest rates.

Central bank figures contained in the January Botswana Economic Financial Statistics (BEFS) show that household borrowing from the country’s commercial banks stood at P55.7 billion at the end of 2024, within which mortgages accounted for P14.8 billion.