The country's bad savings culture is hampering the speedy recovery of the economy. With less money moving around, the government cannot afford to improve infrastructure, which slows down growth.
But knowledge of this has not helped push South Africans into saving more.
The most common reason for this is affordability, with most people spending the bulk of their income on basics like food and transport. But even those who can afford to save are not saving adequately.
Join the M&G and Old Mutual as a group of financial heavyweights debate why South Africans are not saving enough.
Speakers at the event, which will be moderated by Talk Radio 702's David O'Sullivan, include: Peter Dempsey from Asisa, Maya Fisher-French from Maya on Money, Koos Bezuidenhout from Fedusa, and Mohale Ralebitso from Old Mutual.
Date: July 23
Venue: Radisson Blu Gautrain, Sandton
Time: 6pm for 6.30pm until 8.30pm
If you would like to attend the debate please email Mahlodi Makate. She can also be reached on 011 250 7398.