According to Statistic SA Income and Expenditure Survey (IES) 2010/2011 the average for households headed by black Africans was R55 920, per annum and white-headed households had an average of R314 524. Only 16% of the equity on the JSE is in black Africans hands while less than 30% of black Africans hold positions at executive levels in corporate SA as white male still dominate in the economic sphere. White people decided to take 80% of fertile land while constituting 5% of the population and confined black Africans (95% of population) to 20% of land which is unfertile and not conducive for agriculture. All this translated means that when wealth is passed over to the next generation our black African children will inherit four roomed “matchbox” houses and the substandard RDPs while the white child will inherit fertile farms, real estate, share options, bonds and companies including family businesses. This clearly shows that black Africans are still the face of poverty in South Africa and there hasn’t been much transformation under the current dispensation of a black led government.
Posted on: Mon, 29 Jul 2013 12:13:33 +0000
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