South Africa is the most unequal country in the world. This is according to a new report by the World Bank that listed 149 countries.
The report analysed South Africa’s post-apartheid progress‚ focusing on the period between 2006 and 2015.
The report found the top 1% of South Africans own 70.9% of the country’s wealth while the bottom 60% only controls 7% of the country’s assets.
Neighbours Namibia and Botswana were second and third.
Zambia‚ Central African Republic‚ Lesotho‚ Swaziland‚ Brazil‚ Colombia and Panama completed the top 10.
More than half of South Africans (55.5%) or 30-million people live below the national poverty line of R992 per month. This number increased since 2011.
The groups worst affected by poverty are black South Africans‚ the unemployed‚ the less educated‚ female-headed households‚ large families and children.
The official unemployment rate was 27.7% in the third quarter of 2017 while youth unemployment was 38.6%.
The report found poverty has a “strong spatial dimension” which demonstrates the enduring legacy of apartheid.