Didi posted an update in the group At the Crossroad – The Speed And Direction of Money in Black Hands 2 weeks, 5 days ago
World Bank reported a year ago which found SA to be the most unequal country, out of a ranking of 149 countries. The report found the top 1% of South Africans own 70.9% of the country’s wealth, while the bottom 60% only controls 7% of the country’s assets. Neighbours Namibia and Botswana were second and third. More than half of South Africans (55.5%) or 30-million people live below the national poverty line of R992 per month. This number increased since 2011. The groups worst affected by poverty are black South Africans‚ the unemployed‚ the less educated‚ female-headed households‚ large families and children. The official unemployment rate was 27.7% in the third quarter of 2017 while youth unemployment was 38.6%. The report found poverty has a “strong spatial dimension” which demonstrates the enduring legacy of apartheid.