Savings Month 2013

July is National Savings Month

South Africa’s savings rate has averaged 16% of the GDP between 1991 and 2011, with the biggest culprits for the low rate being households and government, leaving the bulk of the contribution to come from the private sector. The 2008/09 global recession exacerbated the situation, and recovery is seemingly slow, further compromising potential savings from economic agents across the board. While the policy and regulatory frameworks have been adjusted accordingly, there are concerns that this adjustment has been inclusive in a way that allows for the participation of all potential savers to contribute their portions. A further concern is that South Africa’s policy and regulatory framework might in itself, though unintentionally, be a contributor to the exclusion of potential savers of the population. This Symposium therefore aims to review the savings related policy and regulatory framework over the past few decades, the corresponding actions taken by the financial sector practitioners and, the subsequent implications for potential savers like the households. By providing a platform for in-depth debate of how to improve the savings and investment landscape, given these arguments, this Symposium will attempt;

  1. To interrogate current policy and practice in the financial sector, and workout practical solutions that can be implemented to ensure participation of all
  2. To draw knowledge, share real experiences (in the form of case studies) as well as recommendations and solutions
  3. Ultimately, to work towards raising the level of household savings in the economy

Savings Symposium presentations: