Finance and Economic Development Minister, Patrick Chinamasa ZIMBABWE lags behind its regional peers in terms of savings, Finance and Economic Development Minister, Patrick Chinamasa, has said, urging banks to come up with new products that encourage depositors to save in order to spur economic development. “The challenge in our economy at the moment is that we are the only country in southern Africa with the lowest savings rate at 10 percent of gross domestic product compared to an average of 30 percent in the region,” he said. The Treasury boss said it was crucial for financial institutions to introduce products such as paid up permanent shares (PUPS), which allow banks to invest in other sectors of…