Make Money Mondays

How saving can make South Africa rich

The Money Show’s Bruce Whitfield interviewed Dr Adrian Saville (Professor in Economics and Competitive Strategy at Gibs and Chief Strategist at Citadel) for his weekly “Make Money Mondays” feature.

Scroll down for quotes from the audio below.

Saving is the fuel of investment.

Dr Adrian Saville

You can’t spend your way to prosperity.

Dr Adrian Saville

You have to save your way to prosperity.

Dr Adrian Saville

Aggregate the savings of 50 million people and you build a pool of savings.

Dr Adrian Saville

Every single country that got rich quickly have large savings pools.

Dr Adrian Saville

Dropping tax rates do not improve savings rates.

Dr Adrian Saville

China’s savings rate of 35% is staggering.

Dr Adrian Saville

Botswana is one of the world’s extraordinary countries with economies that grew by more than 7% for 25 years.

Dr Adrian Saville

Botswana has a savings culture, it is outward looking and it has a stable government.

Dr Adrian Saville

When Botswana became independent they had only 800m of tarred road!

Dr Adrian Saville

Botswana consistently runs budget surpluses.

Dr Adrian Saville

If microcredit is a poverty trap the maybe micro savings is a way out of it.

Dr Adrian Saville

Saving is a learned behaviour.

Dr Adrian Saville

Stokvels are a very important part of the savings landscape. It is, however, a small savings pool and, more often than not, they merely fund consumption.

Dr Adrian Saville

Financial literacy is missing in South Africa.

Dr Adrian Saville

Compounding works in both directions.

Dr Adrian Saville

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