SA now officially the MOST UNEQUAL society on the planet
South Africa is the most unequal country in the world, with race playing a determining factor in a society where 10% of the population owns more than 80% of the wealth, a World Bank report said Wednesday.
"South Africa... is the most unequal country in the world, ranking first among 164 countries," the Washington-based institution said in a report called Inequality in Southern Africa.
The report suggests promoting policy measures that foster equality of opportunity and address the highly skewed distribution of productive assets, which are critical to reducing the persistently high inequality in the five (SACU) countries. The report also suggests enhancing the capacity to respond to increasing climate and economic shocks, that generally affect the poor more severely. Enhancing the efficiency and effectiveness of social spending, and improving the targeting of key social protection programs to redirect resources towards the most vulnerable for more sustainable and efficient fiscal redistribution, is key for accelerating reduction in inequality.
