NDB seeks P400m cash injection

Morapedi PIC: KENNEDY RAMOKONE
Morapedi PIC: KENNEDY RAMOKONE

The National Development Bank (NDB) says it is in talks with government to ask for a P400 million cash injection to keep the business afloat amid rising non-performing loans (NPLs). The troubled financial institution plans to present a restructuring plan shortly and hopes an improved balance sheet will put it in a better position for funding.

In a presentation to the Parliamentary Committee on Statutory Bodies and Pubic Enterprises, NDB chief executive officer, Lorato Morapedi said due to the macro and micro economic effects, 38% of the bank’s loan book fell into non-performing loans status.

She said this negatively affected the bank’s liquidity position, noting that in order to improve performance of the portfolio, there is need for funding support.

Editor's Comment
Gov’t must rectify recognition of Khama as Kgosi

While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....

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