TransUnion warns of looming household debt crisis
Friday, May 28, 2021
As a credit bureau, TransUnion has the largest database in the country on borrowers, their repayment patterns and both positive and negative behaviour across banks, retailers, insurance companies and other entities. The latest Bank of Botswana (BoB) figures show that individuals (as opposed to corporates) owed commercial banks P3.1 billion in arrears, with P1.1 billion classified in the extreme category.
While retrenchments have been illegal under the State of Emergency (SOE), local businesses have struggled to stay afloat due to the COVID-19 measures, resorting to other moves like cutting salaries, working hours, perks and conditions.
The recent Vaccination Day in Motokwe, orchestrated through collaborative efforts between UNICEF, USAID, BRCS, and the Ministry of Health, underscores a commendable stride towards fortifying child health services.The painful reality as reflected by the Ministry of Health's data regarding the decline in routine immunisation coverage since the onset of the pandemic, is a cause for concern.It underscores the urgent need to address the...