"The growth of contractual savings schemes such as pension funds and life assurance has been an important but relatively low profile development in Botswana's financial system over the past ten years. During the 1990s, contractual savings funds have grown to become probably the largest recipient of household financial savings in the country, with assets of over P2 billion. By their nature, they deal with long-term savings and provide a source of long term capital to finance investment. However, most of this capital is at present invested overseas, and an important challenge is to find ways of improving links between these long-term savings and the country's long term investment needs."