NDB seeks P400m cash injection

Morapedi PIC: KENNEDY RAMOKONE
Morapedi PIC: KENNEDY RAMOKONE

The National Development Bank (NDB) says it is in talks with government to ask for a P400 million cash injection to keep the business afloat amid rising non-performing loans (NPLs). The troubled financial institution plans to present a restructuring plan shortly and hopes an improved balance sheet will put it in a better position for funding.

In a presentation to the Parliamentary Committee on Statutory Bodies and Pubic Enterprises, NDB chief executive officer, Lorato Morapedi said due to the macro and micro economic effects, 38% of the bank’s loan book fell into non-performing loans status.

She said this negatively affected the bank’s liquidity position, noting that in order to improve performance of the portfolio, there is need for funding support.

Editor's Comment
UDC should deliver on promises

President Duma Boko and his government must now hit the ground running to deliver on their promises and meet the high expectations of Batswana. The UDC has pledged to foster a deliberative democracy, where open dialogue and continuous conversations are encouraged. This approach will allow different viewpoints to be heard and strengthen the ideas that shape our nation. The introduction of the long-awaited Freedom of Information Act (FOIA) is a...

Have a Story? Send Us a tip
arrow up