- The World Bank has ranked South Africa as the most unequal country in the world
- A study by the organisation revealed that inequality has actually risen since 1994
- More than half of all South Africans live below the poverty line
The World Bank has released a new study, which found South Africa to be the most unequal country in the world. The report lists 149 countries.
The report looks at the progress South Africa has made since the end of apartheid in 1994, with a particular focus on the period between 2006 and 2015.
The report shows that the legacy of apartheid will likely endure long into the 21st century. According to the report inequality in the country is high, persistent and has actually gotten worse over the last 24 years.
Briefly.co.za gathered that the report further reveals that more than half (55.5%) of all South Africans live below the poverty line of R992 per month, this number has steadily increased since 2011.
The report makes the following conclusions:
• By any measure, South Africa is one of the most unequal countries in the world.
• Although South Africa has made progress in reducing poverty since 1994, the trajectory of poverty reduction was reversed between 2011 and 2015, threatening to erode some of the gains made since 1994
• Poverty is consistently highest among black South Africans, the less educated, the unemployed, female-headed households, large families, and children.
• Poverty remains concentrated in previously disadvantaged areas, such as the former homelands – areas that were set aside for black South Africans along ethnic lines during apartheid.
• Low growth perspectives in the coming years suggest poor prospects of eliminating poverty by 2030 as envisaged in the National Development Plan.
The official unemployment rate in the third quarter of 2017 was a shocking 27.7%, while youth employment is at 38.6%.
Chances are that you have heard of Bill Gates or Warren Buffet, two of the richest people in the world, but can you name one of Africa's top 5 richest men? We have compiled this amazing video which brings you Africa's richest 5 people. Briefly South Africa's YouTube Channel.
Do you have a story to share with Briefly? Visit our Facebook page where you can send us a message or leave us a comment. Your story could be shared online.
To stay up to date with the latest news, download our news app on iTunes or GooglePlay today.