Ina Opperman
Business Journalist
5 minute read
10 Aug 2021
5:12 pm

Inequality: Richest 0.01% in SA own more than poorest 90% combined

Ina Opperman

Wealth inequality has not decreased since the end of apartheid, and the bottom 50%'s liabilities actually outweigh their assets.

Inequality where rich and poor live next to each other. Image: iStock

The top 1% in SA owns a higher share of wealth than the bottom 99%, and these levels of wealth concentration have remained remarkably stable since the end of apartheid, despite economic growth and supposed social transformation. This is the highest inequality in the world, when compared to countries where similar research was done. This specific survey was done by the World Inequality Lab on wealth inequality in South Africa between 1993 and 2017. The paper systematically estimated the distribution of household wealth in South Africa since 1993, by combining all relevant macro and micro data sources. According to the...