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Household debt to banks tops P55bn

Friday, March 07, 2025 | 570 Views |

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Retail customers represent low cost of funding and high interest earnings for commercial banks
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SEJAKGOMO

Households owed the country’s commercial banks P55.7 billion in December, an increase of P2.4 billion from the prior year, as declining interest rates helped increase appetite for debt.

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.

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Household debt to banks tops P55bn

Households owed the country’s commercial banks P55.7 billion in December, an increase of P2.4 billion from the prior year, as declining interest rates helped increase appetite for debt.

Gov't moves to close tax gaps

Chief judge promises fairness at tomorrow's Miss Botswana finale

High pressure mounts on fuel prices

We respect AFCON final decision – Babitseng

Court blow rocks BPF leadership

BPF moves to rebuild unity-Lucas

‘Reatile, Ookeditse deal was gentleman’s agreement’

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