Sarova Taita Hills Easter banner


THE MOST FROM THE COAST !

..


 Coastweek website


XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenyan investment analysts decry low savings rate   

NAIROBI, (Xinhua) -- Kenyan investment analysts on Tuesday decried the country’s low savings rate noting that it could affect long term economic growth.

Diana Muriuki, CEO of Institute of Certified Investment and Financial Analysts, told journalists in Nairobi the country’s savings rate as a ratio of gross domestic product (GDP) stands at approximately 15 percent against an ideal rate of 30 percent.

“We are witnessing a low savings rate as households have adopted a culture of consumption due to low confidence in the available investment products,” Muriuki said.

Muriuki said that countries that have made the greatest strides in economic development have high savings rates.

Muriuki observed that savings provide the required finance to make investments that generate income in the future.

She noted that rogue investment and financial analysts have misled Kenyans from savings leading to a low savings rate.

“Kenyans have in the past lost huge sums of money through dubious financial schemes,” Muriuki said.

             

 

Remember: you read it first at coastweek.com !


BestWestern Swiss Cottage Hotel London | Coastweek

 

TO ADVERTISE ON THIS WEB SITE:  www.coastweek.com
Please contact

MOMBASA - GULSHAN JIVRAJ, Mobile: 0722 775164 Tel: (+254) (41) 2230130 /
Wireless: 020 3549187 e-mail: info@coastweek.com

NAIROBI - ANJUM H. ASODIA, Mobile: 0733 775446 Tel: (+254) (020) 3744459
e-mail: anjum@asodia.co.ke

 
    © Coastweek Newspapers Limited               Tel: (+254) (41) 2230130  |  Wireless: 020 3549187  |  E-mail: info@coastweek.com