South Africans do actually save, and the needs for economic growth
Whenever the economy is not going so well, I often observe the blame being laid on consumers. To the contrary, I believe we South African consumers do save. I understand the reserve bank has to curb things or encourage them, by stepping in now and then.
To farce a bit, my cousin is still waiting for my response on an invitation to join their ‘wedding fund’ stokvel. You see, South Africans save. I speak for my black community, I don’t totally know of white folks. Definitely Indians save.
Below are some reasons I say South Africans save, some are a bit outlandish, but I will interject with reasons as to why. Read more