Credit Usage, Hire Purchase Costs, and Consumer Protection in Retail Institutions in Botswana

Olukunle Iyanda University of Botswana
Simangaliso Biza-Khupe University of Botswana

Keywords: hire purchase, credit sales, consumer credit, micro finance, personal loans

Abstract

This paper analyzes credit purchase practices in Gaborone, Botswana. Adopting a survey and a disguised interview technique, data was collected and analyzed on the usage rate of credit purchases. The hire purchase, which was the most popular form of credit, was examined in greater detail with respect to the costs of hire purchase, their comparison with other types of consumer credit, the compliance of hire purchase sellers to the hire purchase laws. It concludes with policy change recommendations on hire purchase and personal loan transactions.

Author Biographies

Olukunle Iyanda, University of Botswana

Dept of Marketing, Professor

Simangaliso Biza-Khupe, University of Botswana

Dept of Accounting and Finance, Lecturer

Published

2010-11-09

Issue

Vol 3 No 1 (2011)

Section

Articles and Research papers

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Submitted papers must be original work of the author(s) and should not violate any existing local and international copyright laws. The copyright of published papers shall be held by KCA University but author(s) retain the right to use their own work in other publications provided they acknowledge KCA University as the original publisher. Each time the author(s) use their own work published by KJBM in other publications a full citation must be made