Spike in business credit uptake

Friday, July 11, 2014

The uptake of credit by businesses has steadily increased in the past six months in what could be a reflection of improving prospects for the private sector.

Financial statistics released by the Bank of Botswana this week show that the annual credit growth increased to 15 percent in April from 13.8 percent in March. This was largely due to a rise in business credit growth from eight percent to 10.8 percent in the period.

The 10.8 percent rise in loans to businesses in April represents a three fold (200 percent) rise from a 3.6 percent growth rate recorded in November last year.

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