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Of Botswana’s economic philosophy and raising rates

Friday, June 24, 2022 | 1830 Views |

Balancing act: BoB governor, Moses Pelaelo has to thread the line between restraining inflation and supporting the economic rebound PIC: PHATSIMO KAPENG

On Thursday 16th June 2022, the Bank of Botswana announced a hike of its Monetary Policy Rate by 50 basis points moving from 1.65% to 2.15%.

First and foremost, what does this mean for you and me? In simple terms, it means most of your loans just got half a percent more expensive.

That is, if the loan interest rate you were being charged by your bank was 7% it will now be 7.5% meaning you will be paying more every month.

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Depression is real; let's take care of our mental health

It is not uncommon in this part of the world for parents to actually punish their children when they show signs of depression associating it with issues of indiscipline, and as a result, the poor child will be lashed or given some kind of punishment. We have had many suicide cases in the country and sadly some of the cases included children and young adults. We need to start looking into issues of mental health with the seriousness it...

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