By VINCENT NDEGE MAOSA More by this AuthorAesop, that fabulist and colourful storyteller from ancient Greece, in Fable 373, tells a story about savings. Here, Aesop demonstrated the importance of frugality and forethought while also highlighting the dangers of profligacy and improvidence. Its outlook for Kenya was grim as it predicted a slump from the 5.6 per cent growth last year to just one per cent in 2020. Saving is beneficial to the entire society as it is a prerequisite for boosting long-term economic potential. Savings increase the liquidity of banks, which provide stable sources of financing to businesses for investment and expansion, hence stimulating economic growth and accelerating job creation.

Source: Daily Nation June 02, 2020 21:11 UTC