Richest 10% South Africans Own Over 2/3 Wealth, More Than Half Live In Poverty — Transparency

Transparency International has revealed that the richest 10 per cent South Africans own over two thirds of the wealth, and more than half of the country lives in poverty.

This was contained in report made available to ElombahNews on Saturday.

According to the said report, in South Africa, 25 years after the end of Apartheid, inequality levels are among the highest in the world.

It also identified corruption as the major contributing factor.

The report continues:

“Corruption is rampant across all levels of government, and this only makes matters worse: it affects income distribution, the use of aid flows as well as decisions about public expenditure.

“Inequality, in turn, can perpetuate corruption, as the wealthy few protect their privilege through dodgy deals and illegal practices.

“This week, the party of ex-president Zuma clung on to power in a general election. They should finally deliver concrete anti-corruption measures.

“But high-ranking members face corruption allegations, and our chapter’s pre-election analysis showed that anti-corruption commitments in most parties’ manifestos were vague at best.

In conclusion, Transparency International stated that government in South Africa and everywhere else for that matter, should prove that they work for the whole population.

“Tackling corruption is a good place to start,” it concluded.