NDB seeks P400m cash injection
Friday, September 16, 2016
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.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...