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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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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.

'Face to face with the man who tried to kill me'

Couple perishes in suspected 'passion killing' crash

Dimajwe duo arrested after missing assault victim found buried

Dikoloti escapes injury after car hits cow

Five-year-old boy hospitalised after road accident in Mogoditshane

UDC rolls out 'promised' child grant

BPF to hold first youth, women congresses

Of borrowed wheels and brand new GD6

Two-tier education system demands action