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Household credit grows but remains relatively low

Although household credit grew by 6.2 percent in 2018, Botswana’s household debt relative to the economy and by international standards is said to be low.

According to the Financial Stability Report prepared by the Bank of Botswana in collaboration with the Ministry of Finance and Economic Development as well as the Non-Bank Financial Institutions Regulatory Authority (NBFIRA), when measured using household debt to GDP, household debt is very low.

Indeed, last year’s household credit growth was in fact lower than the 7.2 percent growth recorded in 2017.

The larger portion of this cre...

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