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The low level of savings in Kenya is reducing the amount of investment in the country, which holds back economic growth.
The World Bank says savings in Kenyan households are not only low and declining, but are also lagging behind other economies in the region, which are less economically endowed. In the 1980s, the saving rate was higher than in Senegal, Ghana, Uganda and Tanzania, but Kenya has stagnated in the last three decades, allowing the rest to catch up and surpass it.
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