91% of workers don’t save for old age
Sub-Saharan African rate lowest in world
Less than 10% of the workers in Sub-Saharan Africa save for old age, the lowest rate for any region in the world. That implies most of the breadwinners today won't be able to afford basic items after retirement. The Conversation Africa asked Owen Nyang'oro, a financial economist, about Africa's pensions and why they need to be fixed.
In a recent study of retirement savings in Sub-Saharan Africa (other than the francophone countries), we established that the continent’s pension funds are diverse in architectur
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