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ArcelorMittal South Africa, a unit of steel manufacturing company ArcelorMittal (NYSE:MT) has made a major restructuring decision to wind down its Longs Business, having significant consequences ...
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]
Now, the mining and agriculture industries have been labeled as part of the second economy of South Africa [citation needed]. The mining and agriculture industries have been left behind with the modern wave of advanced technology, global trade, and the financial sector of South Africa. As the capitalist financial sector in South Africa has ...
it is the study of upward socio-economic change in status achievable by South Africans from generation to generation. As South Africa saw the end of political apartheid, the country experienced movement in the demographics of social class. Many native South Africans were able to get high paying jobs and raise themselves out of poverty. [1]
Khosa and Others v Minister of Social Development and Others, Mahlaule and Another v Minister of Social Development and Others is a decision of the Constitutional Court of South Africa which established that it is unconstitutional to exclude permanent residents from the social welfare system on the grounds that they lack South African citizenship.
The energy crisis has significantly limited economic growth in South Africa thereby preventing the country from resolving high rates of unemployment. [ 27 ] [ 125 ] The power shortage is estimated to have reduced economic growth in 2021 by 3% thereby costing the country an estimated 350,000 potential new jobs for that year alone. [ 27 ]
Increasing unemployment, lack of affordable housing, social disintegration, and social and economic policies have all been identified as contributing factors to the issue. [2] Some scholars argue that solutions to homelessness in South Africa lie more within the private sphere than in the legal and political spheres. [3]
The system of Apartheid That existed in South Africa prior to 1994 concentrated power in the hand of the white minority who used this power to deny economic opportunity to the black majority. For Example the Apartheid regime barred Blacks from working and living in cities in order to keep them out of skilled labour positions, this ban was only ...