The buck that refuses to be passed

Friday, April 11, 2014

A boomerang effect from years of lax lending to the current reality of mounting arrears, to tighter industry wide controls on the “leakage” of bad loans to the Bank of Botswana’s “see no evil, hear no evil” approach, Staff Writer, MBONGENI MGUNI, prods the bubble that is household indebtedness

Approximately seven years ago, minimum wage earners were on an unnatural high. Barclays Bank Botswana, in a bid to corner the raging appetite for loans during the boom years before the recession, lowered its thresholds and offered credit cards to workers earning as little as P750 per month.

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The buck that refuses to be passed