South Africans saving less than R3 out of every R100


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South Africans last year saved on average R2.80 for every R100 of their disposable, or after tax, income, the latest Housing Review from ABSA says.

Apparently this was an improvement from 2011 when they saved R2.70 for every R100.

The bank said that the amount households saved was not sufficient to pay a deposit when financing property, a vehicle or household appliances.

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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