NDB struggles with loan repayments
Friday, September 29, 2017
NDB chief executive officer, Lorato Morapedi told the media recently that for the year 2016/17 the actual collections were P115.8 million against a target of P210 million.
She said during the period, the bank disbursements were P122 million against a target of P210 million, noting that they have since slowed down on disbursements while focusing on the turnaround plan, which included reduction of non-performing loans.
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...