Once rapid growth of black middle class slowing due to Govt policies – SAIRR

The South African Institute of Race Relations (SAIRR) has released a report on the size, growth and likely future expansion of South Africa's middle class.

According to the SAIRR report, the black middle class has expanded quickly, but may now slow.

The Money Show’s Bruce Whitfield interviewed Gabriela Mackay, Research Analyst at The South African Institute of Race Relations.

Scroll down to listen to the interview.

We defined “middleclass” as people who spend, as a household, more than R10 000 per month as well as a number of other indicators.

Gabriela Mackay, Research Analyst at The South African Institute of Race Relations

About 10% of South Africans are solidly middleclass.

Gabriela Mackay, Research Analyst at The South African Institute of Race Relations

Spending by the black middleclass have increase by more than 40% since 1996.

Gabriela Mackay, Research Analyst at The South African Institute of Race Relations

The first generation black middleclass is vulnerable to a slowdown in economic growth.

Gabriela Mackay, Research Analyst at The South African Institute of Race Relations

We need to grow the economy by at least five percent per year to avoid a stagnation in the growth in the black middleclass.

Gabriela Mackay, Research Analyst at The South African Institute of Race Relations

This article first appeared on 702 : Once rapid growth of black middle class slowing due to Govt policies – SAIRR


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