Addressing Household Debt Pressures
Speaking at the launch, Peggy Serame, Minister of Finance, welcomed the initiative while highlighting the growing challenge of household indebtedness in Botswana. She referenced findings from the December 2021 Household Indebtedness Survey, which showed that bank loans to households increased from P48.7 billion in December 2020 to P51.1 billion in October 2021.
Despite these concerns, Ms. Serame emphasised that access to credit remains a critical component of a modern economy, noting that structured and responsible initiatives such as the Payless Grocery Coupon Scheme can play a meaningful role in supporting household stability and broader economic development.
A Commitment to Botswana’s Educators
The scheme was officially launched in Gaborone, where Ms. Serame underscored the essential role teachers play in shaping the nation’s future. She noted that initiatives aimed at improving the welfare of educators are not only timely but necessary, particularly in challenging economic conditions.
The partnership reflects Payless’ commitment to supporting educators by offering practical solutions that acknowledge their contribution to society while addressing everyday financial realities.
How the Scheme Works
Under the Payless Grocery Coupon Scheme, qualifying teachers are able to open a Payless account that allows them to purchase groceries and settle payment after 30 days without interest. The scheme is designed to provide a financial buffer, enabling teachers to better manage monthly expenses without resorting to high-cost short-term credit.
Economic Impact and Opportunities
Ms. Serame also highlighted Payless’ long standing contribution to Botswana’s retail sector. As one of the country’s oldest supermarket brands, Payless has played a significant role in the retail and wholesale industry, which accounted for 11.5 percent of Botswana’s Gross Domestic Product in 2021. The sector recorded an average annual growth rate of 7 percent over the decade leading up to 2021, presenting continued opportunities for innovation and inclusive growth.
