Information gaps widen lending risks, credit bureau warns

Incomplete profiles: Batswana owe commercial banks more than P38 billion PIC: MORERI SEJAKGOMO
Incomplete profiles: Batswana owe commercial banks more than P38 billion PIC: MORERI SEJAKGOMO

The failure by the country's financial institutions to share information means incomplete profiles of borrowers are being generated, leading to higher risks and costs for lenders, a leading credit bureau says.

TransUnion, the main credit bureau in Botswana, has warned that the use of data to make credit decisions in Botswana is fairly underdeveloped in comparison to other African countries.

“Data sharing should be broadened to not only include data from lenders, but also insurance, telecommunications, retail and any other entities that provide goods and services to consumers so as to obtain a more comprehensive view of a consumer’s financial commitments,” TransUnion Africa acting country manager, Kabelo Ramaselwana told BusinessWeek.

Editor's Comment
Our food safety matters

We commend the GCC inspectors for their vigilance in uncovering serious hygiene violations at establishments like Pick 'n Pay (South Ring Mall), Bravo Restaurant (Main Mall), Chicken Twist (Bonnington), Spar (Main Mall Bakery and Butchery), Choppies Butchery, Pie Time, and Fours Bakery. Their decisive action which includes temporary closures, confiscation of unsafe food, and laying charges sends a powerful, necessary message: food safety is...

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