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GEAR prioritised economic growth, believing that economic growth could solve poverty problem by job creation. [5] GEAR emphasised that economic growth should be led by the private sector and reduced the role state took in economy. [5] As a result, the decrease in public spending led to the elimination or shrinkage of social services. [5]
When the premier of the economic hub province of Gauteng announced last month that he was offering jobs for 6,000 unemployed young people, more than 40,000 waited in the winter cold to apply. More ...
Today, the majority of the residents are incoming migrants from the townships, rural areas and the rest of Africa, many living in abject poverty. An urban regeneration programme is underway. There are street markets, mainly used by local residents, and the Johannesburg Art Gallery contains work by major local artists including William Kentridge.
Other cities with a significant share of the country's homeless population was Johannesburg (15.6%), Cape Town (11.9%), and eThekwini (10.1%). [19] Gauteng province had the largest number of homeless people with 25,384 recorded individuals and the Western Cape had the second largest homeless population with a total of 9,743 recorded individuals ...
Johannesburg remains one of the world’s most unequal cities with widespread poverty, joblessness and a housing crisis. It has about 15,000 homeless people, according to the Gauteng government.
At any poverty line, blacks are very much poorer than coloureds, who are very much poorer than Indians, who are poorer than whites. [160] [162] In 2002, according to one estimate, 62% of Black Africans, 29% of Coloureds, 11% of Asians, and 4% of Whites lived in poverty. [163] [164]
According to the World Bank, South Africa is the most economically unequal country in the world [citation needed].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 cities Johannesburg, Midrand and Pretoria, which are all economic powerhouses, and Vanderbijlpark, which is an industrial powerhouse, [10] are all in Gauteng. Gauteng is home to the Johannesburg Stock Exchange, [11] the largest stock exchange in Africa, as well as the head offices of over 140 local and international banks. [7]