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In South Africa, this idea is known as the first (capitalist, high-profit industries) and second (underdeveloped) economies. [7] The first economy contributes to the majority of South Africa's wealth and is integrated within the world economy. The second economy consists of low-skilled and outdated jobs.
In 2020, South Africa's GINI coefficient was 62.73, the highest of any country, indicating a high-level of income inequality. [5] The top 20% of South Africa's population holds 70% of all income earned by the country, with this group consisting mainly of White South Africans. [6]
According to the World Bank, South Africa is the most economically unequal country in the world. [14] The difference between the wealthy and the poor in South Africa has been increasing steadily since the end of apartheid in 1994, and this inequality is closely linked to racial divisions in society. The reason for South Africa's economic ...
JOHANNESBURG (AP) — Perhaps nowhere in today's South Africa is the country's inequality on more dramatic display than in the neighboring Johannesburg suburbs of Sandton and Alexandra.
Now, more than 100 years later, Black people make up 81% of South Africa’s population of 63 million, yet only own 4% of private land, according to a government land audit conducted in 2017.
As 72-year-old Nonki Kunene walks through the corridors of Thabisang Primary School in Soweto, South Africa, she recalls the joy she and many others felt 30 years ago when they voted for the first ...
However, South Africa still remains one of the most unequal societies on the planet today. Though racial lines of the rich whites and poor blacks became less clear after the shift to democratization, inequality still exists on a major scale, and has shifted to the differences within the black community. [1]
South African President Cyril Ramaphosa on Wednesday signed into law a bill that aims to overhaul the healthcare system to address deep inequality, but it faces legal challenges from critics. The ...