South Africans save too little

By Staff Writer

South Africans are saving too little, the Liberty Group said on Tuesday.

"One of the biggest issues facing the South African economy is the critically low rate of national savings", Liberty Group chairman Saki Macozoma said.

He said the group supported government's efforts to encourage a savings culture among South Africans.

South Africa's economy was slowing after robust sustained growth over the past few years.

While 2007 saw broad-based economic growth, 2008 was set to be a "more challenging year", he said.

 

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