Why I smell a rat in pension funds

I came across an article that was talking about Kenyans’ poor savings culture and the link to Government seeking alternative significantly higher loans for various infrastructure projects. I do agree that Kenyans could do better at saving, but that is certainly not the whole story.

While in most African countries savings rates are low, standing at 17 per cent of Gross Domestic Product, Kenya’s rates are lower at around 14 per cent of GDP with Tanzania and Uganda being cited as having crossed the 20 per cent mark with a lower per capita income.