I don’t know how many of you use this unsecured lending; I do use it, but I only use it through my credit card. The categories that have me worried are not the credit card lending or overdraft facilities, but it is actually more the personal loans and we would want to get to understand what is actually driving this.
This said, even if this entire R50bn falls into default it won’t make a dent on the banking sector. To conclude, African economies need to strengthen the domestic and regional basis for growth. This is best done by strengthening regional and extra-regional commercial and trade agreements, developing cross-border infrastructure, strengthening macroeconomic policies, and developing institutions and human capital.