Black middle class post-Covid: Largely unscathed, but still under pressure - South Africa’s black middle class has a spending power of R400-billion per year, research study finds
This is according to the latest instalment of the Black Middle Class research report, which was released by the University of Cape Town Liberty Institute of Strategic Marketing on Thursday. It has been 15 years since the first study of its kind was conducted.
According to the report, there are now 3.4 million people who fall into the black middle class, making up 7% of South Africa’s black population. The consumer segment has a spending power of R400-billion per year. The report also found that, compared to 15 years ago, the black middle class now has a more concerted focus on creating generational wealth.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: Another Interest Rate Hike Expected Today - South African News Briefs - September 22, 2022
Read more »
SABC celebrates Heritage Month with beautiful artworks - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The South African Broadcasting Corporation’s (SABC) Art Collection boasts some of the most beautiful artworks by some of South Africa’s prominent and lesser known, but skilled South African artists. The artworks have been showcased at many renowned art exhibitions in the country and abroad. As South Africa celebrates Heritage Month, SABC reporter Tshepo Phagane spoke …
Read more »
Economists send warning to consumers in South Africa after rate hikeThe South African Reserve Bank’s Monetary Policy Committee (MPC) has hiked the repurchase rate (repo rate) by 75 basis points.
Read more »
Private company sells South Africa’s first new military aircraft since Denel RooivalkThe Mwari is the first new military aircraft made in South Africa since the 1980s, when Denel unveiled the Rooivalk.
Read more »
South African Clothing Retailers Reducing Reliance On Chinese ImportsThe South African flag is increasingly decorating labels on garments at major retail chains across the country. It's an effort to bolster the country's clothing and textile sector.
Read more »
5 important things happening in South Africa today15 years after load shedding started, the government is still talking about how to fix it; an announcement on income support for South Africa is expected in October; South Africa is becoming known as a mafia state; and Mkhize gets backing for ANC president in eThekwini, while Nelson Mandela Bay gets a new mayor.
Read more »