Business credit growth slumps

Friday, August 14, 2020

Local businesses are not taking up commercial bank loans, despite the record low interest rates available, with annual credit growth for May falling to about two percent in May from 2.8 percent in April, the latest Bank of Botswana statistics show.

Businesses are either unable to afford loans due to the COVID-19 crisis or prefer to finance their requirements from their own reserves, research by the central bank and other analysts has shown.

Credit growth, or the annualised rate of increase in loans, also slipped amongst households in May, being measured at 11.5% from 14.5% in April.

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Business credit growth slumps

Local businesses are not taking up commercial bank loans, despite the record low interest rates available, with annual credit growth for May falling to about two percent in May from 2.8 percent in April, the latest Bank of Botswana statistics show.

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