Ray White interviewed Standard Bank South Africa Economist Siphamandla Mkhwanazi on The Money Show.
Mkhwanazi discussed a Standard Bank report entitled “Consumer Outlook 2016”.
Quote from the report:
“SA has one of the most unequal societies in the world. The Gini coefficient declined only slightly between 2006 and 2011, from 0.72 to 0.69; change has been slow indeed.
“The emergence of the middle 60% of the population contributed to these improvements, while the poorest 20% of the population saw a decline in the share of national income.
“Nevertheless, poverty levels are slowly declining. Between 2006 and 2011, the proportion of the population living in poverty (using the national upper bound poverty line) fell from 57.2% to 45.5%. We believe that this could be attributed partly to the aggressive expansion in the social grants programmes.”
Scroll down for quotes from the audio below.
The improvements are there, but they’re slow.— Siphamandla Mkhwanazi
The middleclass in South Africa is getting bigger.— Siphamandla Mkhwanazi
This doesn’t take account of the informal economy.— Siphamandla Mkhwanazi
The Poor has become the best drawcard for political parties.— Siphamandla Mkhwanazi
Government is trying its best.— Siphamandla Mkhwanazi
Bruce Whitfield interviewed Mashaba about his latest book “Capitalist Crusader – Fighting Poverty through Economic Growth”.
Gill Marcus calls it “one of the most important books of this century”. 5 thought leaders debate Thomas Piketty’s tour de force...
Use this calculator to compare your salary to the world average and averages of 72 countries (including South Africa).
Jesus said poverty will always be with us. He was right, because poverty is relative, says the Free Market Foundation’s Leon Louw.
South Africa is a country of breath-taking wealth and life stealing poverty, according to an Oxfam report on extreme inequality.