The income inequality in South Africa is growing at a pace that is much more rapid than has been reported in the past, according to a study.
UCT researcher and academic Ihsaan Bassier co-authored the study.
Bassier says the study shows that the top 1% of incomes is increasing rapidly even with low economic growth.
The richest 5% (which is about 1.5 million adults) earn more than R25 800 a month and earned in total close to 30% of South Africa's national income in 2016.
Bassier says the study is more focused on the type of percentiles of income.
So if you recall, there was a lot of talk about Thomas Pickette's work around the richest in the country growing a lot faster than the rest of the country.— Ihsaan Bassier, Academic and researcher at UCT and co-author of the study
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