A study funded by the Research Project on Employment, Income Distribution and Inclusive Growth reveals that 10% of South Africa’s wealthiest population owns at least 90% to 95% of all assets such as real estate, pension funds and shares of listed companies.
This is more than the 50% to 75% owned by the richest 10% in more advanced economies.
The research also states that the rest of the wealth is divided among 40% of middle-class South Africans who claim a share of around 5% to 10%. The poorest 50% of the population own no measurable wealth at all.
Furthermore, the richest South Africans earn approximately 55% to 60% of all income.
The study proposes helping lower- and middle-class households build funds to promote a more equitable wealth structure.
11 October 2016
Image: Andreas Eiselen/HSMimages
