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Boosting domestic savings in Africa
- Source: Africa Renewal, Volume 22, Issue 3, Oct 2008, p. 12 - 14
- French
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- 31 Oct 2008
Abstract
What if wealthy Africans decided to invest their earnings in Africa instead of overseas? And if the 80 per cent of Africans now without bank accounts got access to formal financial services? And if African governments put their domestic revenues into productive investments? “Rates of savings [would] go up significantly and Africa could perhaps be in a position to meet more than its resource needs,” answers Samuel Gayi, a senior economist on Africa at the Geneva-based United Nations Conference on Trade and Development (UNCTAD).
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