Unsecured household debt worries FSC

The Financial Stability Council (FSC), made up of the Bank of Botswana, Non-Bank Financial Institutions Regulatory Authority, Financial Intelligence Agency and the Finance Ministry, revealed the findings in its latest report covering the year to March 2022.

As at March 2022, household borrowers, a term that refers to individual rather than corporates, owed commercial banks P33.3 billion in unsecured debt, out of the P45.9 billion in total outstanding debt they owe.