Presenting solid half-year results of her bank recently, the Managing Director of Absa Bank Botswana, Pheko- Moshagane, said the bank has managed to quash the economic shocks presented by high inflation and the Russia- Ukraine war.
She noted that the financial sector has been the most affected as lending interest rates have been slashed for a long time to cushion consumers against COVID-19 but inflation rose sparingly after rates were adjusted.
Looking beyond inflation and other economic headwinds in the short to a medium-term, Absa’s MD noted that what is now emerging as a major threat to business is shrinking household incomes.
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