Botswana outdo peers in savings accrual -World Bank

Finance Minister Kenneth Mathambo
Finance Minister Kenneth Mathambo

Botswana has outpaced its resource-rich African counterparts in converting mineral revenues into net savings, a report released by the World Bank this week states.

According to the bi-annual 2014 Africa Pulse report, net savings have been negative in Sub-Saharan Africa since 2004, which means that the region’s growth is being accompanied by a depletion of total wealth.

“The gap between gross and net savings has increased by 31 percent over the last two decades. The declining trend in the region’s adjusted net savings over the last two decades has been driven mostly by large negative savings in oil-rich countries such as Angola, which had an adjusted net savings of -23 percent of gross national income (GNI) in 2011.

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