Cost of Living in South Africa Sits at R15K per Month, Researcher Explains ‘Comfortable’ Living

• Research has been done that estimates what the 'livable wage' should be in our country
• According to researchers, the food poverty line is R760, and the national minimum wage is a poverty wage
• Economists have predicted a 1% GDP growth rate in 2024, well below the 3.8% of other thriving African countries

The required monthly liveable income in South Africa in 2024 is R15,000. This is significantly higher than the minimum wage for someone across the country.

What is a living wage?

The wages you earn will allow the lowest-paid workers to provide financially for their families while giving them a chance to save in emergencies.

The Living Wage South Africa Network (LWSAN)

The University of Cape Town, under the guidance of Professor Ines, conducted a survey of low-earning individuals and their quality of life.

Read also

Age-limit for government job applications must be scrapped: Save SA

“This [R15,000] affords the opportunity to live a ‘decent’ life in the sense that it gives people a choice over areas of life that matter to them,” remarked the LWSAN chairperson, Prof Meyer, to IOL.

”The LWSAN encourages the public and employers to consider the plight of these earners who struggle to afford the bare essentials the rest of us take for granted."

What is the minimum wage in South Africa?

As of 1 March 2024, the minimum wage in South Africa is R27.58 an hour, as published by BusinessTech. If you calculate this for a person who works 160 hours a month, the figure is R4 412,80.

Reactions to the R15,000 'comfortable living' wage

@Ferezarams compares the man on the street to the ones behind bars:

Read also

Cape Town man shares dinner meals for a family that cost less than R50 in a video, SA reacts

"A prisoner is living with the cost of R16.280 per month paid by Govt. A law-abiding citizen is given R370 to live for a month.🤮 This life is not balanced!"

@zinn_le begs the question of the current regime:

"R15 000? In Cyril's economy?"

@molotokk9 shares her basic expenses per month:

"Water 2k; Electricity 2k; Rates and taxes 2k; Rent 8k. I haven't even bought food 🙄🙄 Which South Africa are you talking about?"

South Africans call for wage growth policies

Briefly News reported that South Africans are urging for policies that promote wage growth aligned with inflation, as recent statistics reveal a 0.1% decline in average salaries in early 2024.

Despite a 4.6% year-on-year increase, wages have not kept up with the 5% inflation rate, resulting in a real-term decrease in purchasing power. Experts stress the importance of sustainable economic policies to tackle these challenges and enhance living standards."

Source: Briefly News