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Ghana is ranked 4th<\/sup> in Sub-Saharan Africa (SSA) with the highest private savings, a report by the International Monetary Fund on \u201cPrivate Savings and COVID-19 in Sub-Saharan Africa\u2019 by the International Monetary Fund (IMF)\u201d has disclosed.<\/p>\n Despite the challenges facing the economy, the report stated that private savings in Ghana grew from about 24% in 2019 to about 30% in 2022.<\/p>\n Again, oil exporting and middle-income countries such as Ghana, are the highest savers in the region.<\/p>\n The report further added that private disposable income in the country had gone up considerably.<\/p>\n \u201cThe private saving rate in SSA has increased during the last two decades to an average rate of 17.3% in 2019 from 11.5% in 1983. However, there is significant heterogeneity across the SSA countries. Oil exporters and middle-income countries (MICs) are the highest savers in the region. Private saving rates, as expected, are particularly low in fragile states and low-income countries (LICs)\u201d, it pointed out.<\/p>\n The World Bank in its recent Global Findex Report said though the share of adults in Ghana having an account at a financial institution remained mostly stagnant since 2017, mobile money account ownership increased to 60% from 39% in 2017.<\/p>\n Again, the July 2022 Banking Sector Development Report by the Bank of Ghana also revealed that deposits recorded a robust growth of 19.1% to \u00a2131.3 billion as of the end of June this year, albeit lower than the growth recorded a year earlier.<\/p>\n Meanwhile, Gabon is the number one country in Sub-Saharan Africa with the largest private savings of about 34%.<\/p>\n SUB-SAHARAN AFRICA COUNTRIES WITH HIGHEST PRIVATE SAVINGS<\/strong><\/p>\n Ghana is ranked 4th in Sub-Saharan Africa (SSA) with the highest private savings, a report by the International Monetary Fund on \u201cPrivate Savings and COVID-19 in Sub-Saharan Africa\u2019 by the International Monetary Fund (IMF)\u201d has disclosed. Despite the challenges facing the economy, the report stated that private savings in Ghana grew from about 24% in […]<\/p>\n","protected":false},"author":1,"featured_media":1204187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[6853,671,85,3293,1594,9854,5396,4273],"class_list":["post-1204186","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-4th","tag-africa","tag-ghana","tag-highest","tag-private","tag-ranked","tag-savings","tag-subsaharan"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1204186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1204186"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1204186\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1204186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1204186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1204186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n\n\n
\n COUNTRY<\/strong><\/td>\n PERCENTAGE (%)<\/strong><\/td>\n RANKINGS<\/strong><\/td>\n<\/tr>\n \n Gabon<\/td>\n 34<\/td>\n 1st<\/sup><\/td>\n<\/tr>\n \n Angola<\/td>\n 32.5<\/td>\n 2nd<\/sup><\/td>\n<\/tr>\n \n Tanzania<\/td>\n 30.5<\/td>\n 3rd<\/sup><\/td>\n<\/tr>\n \n Ghana<\/td>\n 30<\/td>\n 4th<\/sup><\/td>\n<\/tr>\n \n Botswana<\/td>\n 28<\/td>\n 5th<\/sup><\/td>\n<\/tr>\n \n Ethiopia<\/td>\n 28<\/td>\n 6th<\/sup><\/td>\n<\/tr>\n \n Benin<\/td>\n 27<\/td>\n 7th<\/sup><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<\/div>\n","protected":false},"excerpt":{"rendered":"