Dave Ramsey vs. Africa

How you comin’ on your 6 month emergency plan?  Yeah, us too.  Lori and I have learned a lot from Dave and still tune in.  However, when we lived and worked in Africa we had the hardest time getting our brothers and sisters to understand some of the biblical truths on financial management, particularly saving money for the future needs they might have.

Gallup recently released a study on personal savings accounts in Africa.  The study showed that only a handful of people have personal bank account.  When you live from hand-to-mouth, it’s hard to think of saving for “rainy day.”  Only 2% of Malians have a personal bank account.  Sixty-six percent said they didn’t have one because they didn’t have enough money.

While we lived in Zambia (9% of Zambian have a personal bank account), the Barclay’s bank branch manager ran off with a lot of money he stole from the bank, left his family, and died of AIDS before they could catch up with him.  Just as we Americans have a hard time trusting banks these days, Africans have a hard time trusting what little they have to a bank front loaded with fees and service charges, only to have it stole.

See below the full article from Gallup…

Africa and Savings accounts

This entry was posted on Thursday, June 10th, 2010 at 8:21 am and is filed under Missions, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

 

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