According to the Treasury, over R4.3 billion has been invested since April last year. In November 2010, R916 million worth of investments, the highest ever in a single month, was recorded by the Treasury.

"This brings the total amount invested in these products since their launch to R10.9 billion, with over 36 000 active investors and over 70 000 active investments," said Treasury.

Of the investors in these bonds, 30.04 percent are over 70 years while 10.30 percent are between 30 to 39 year olds, 5.98 percent are between 20 to 29 year olds and 3.36 percent are younger than 20.

The bonds are intended to support government's savings initiative and to encourage a longer term savings outlook among South Africans.

"Savings rates in South Africa are relatively low, leaving households vulnerable to unplanned events and emergencies. The bonds are part of an overall campaign to educate and encourage people to manage their finances. They are an affordable investment product, offering competitive returns, and are backed by government," said Treasury.

Treasury said that based on their performance, investments in these retail bonds will be able to fund between five and 10 percent of South Africa's total borrowing requirements within the next two years, with a target of between R4 and R5 billion in investments per year being the aim.