Fitch sees Hard Times ahead for Batswana

Botswana consumers have been warned to brace for high interest rates as well as to contend with servicing expensive debts.

This is according to a new report by credit rating agency, Fitch Solutions, which shows that over 2023, real household spending will accelerate to 4.8 percent year-on-year, which will come in the form of sticky inflation and elevated interest rates. The result is that, says the report, this will “reduce consumer purchasing power and make debt servicing more expensive”.