Household debt to banks tops P55bn
Friday, March 07, 2025 | 570 Views |
Targetted:
Retail customers represent low cost of funding and high interest earnings for commercial banks
PIC: MORERI
SEJAKGOMO
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.
Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...