16. The tendency fer MPC tc rise in the last two years or so in the African region frustrated savings efforts with marginal propensity to save (MPS) falling slightly from lB.l in 1979 to 17.9 in 1981. As expected, hc.Jever, the major cil exporters are making the qreater savings effort (see statistical annex). The converse is howeYer true in the case of the least developed countries. Suffice it to mention that durinq the last three years their savings as proportion of GDP ranqea between 5.6 per cent and 9. 7 per cent or:ly compared to a ratio of about 20 per cent and 17 per cent for the major oil qroup and non-major oil group respectively. It is in recoqni tion cf this fact and other strucLural limitations of the least developed countries that the Substantial New Programme of Action (SNPA) \vas adcpted in their favour by the United Nations Conference on least developed countries in Septemter 19£1 in Paris. 17. The deterioration in savings efforts resulted in progressive decline in the proportion of investment financed frcm local 22 E/ECA/CL.9/5 resources which fell in the case of the whole reqion frcm about 85 per cent in 1979 to about 71 per cent in 19El. This is larqely attributable to the declir:e of ccrrespondinq ratios in the major 'oil exporters and, to a lesser extent, to similar tendencies in the non~oil-exportinq qroup. The situation was more serious in the least developed countries with this ratio barely exceedir.q 55 per cent. 18. Gross fixed capital formation, on the other hand, continued its upward trend in developinq Africa, in both rna jor oil export­ ers and non-oil exporters. In 1981 qross fixed capital formation as a proportion of GDP amounted to 23.6 per cer.t, 32.3 per cent and 16.8 per cent for the respective qroups of countries. 
**Analysis**
The text discusses the economic situation in Africa, specifically the decline in savings rates and the impact on investment and gross fixed capital formation. It also mentions the adoption of the Substantial New Programme of Action (SNPA) by the United Nations Conference on least developed countries. This suggests that the text is primarily focused on economic development and international cooperation.

**Category**
Economic development, International trade