Lax Laws Foster High Indebtedness
Monday, October 27, 2014
Methews Tshotelo
Speaking to the Business Monitor, Tshotelo said most people are caught in the trap of high arrears because financial institutions and banks are failing to give sufficient information on their charges.
“ There are many cases of high indebtedness debts in Botswana and in most instances people jump into loans without being informed about the charges,” he said.
Smash-and-grab incidents became common at traffic lights, Automatic Teller Machine (ATM) bombings made headlines too often, cash-in-transit robberies terrified security personnel, while home invasions left families traumatised in the very places they were supposed to feel safest. The situation had reached alarming levels and threatened not only the peace of ordinary citizens, but also the country’s reputation as one of the safest and most...