Bitter taste of freedom

STAGNATION: POVERTY, UNEMPLOYMENT, INEQUALITY BLOCK PROGRESS

- Brian Sokutu

With the unemployment rate standing at 31.9% and about 55.5% people living below the national upper poverty line, South Africa, which yesterday celebrated 31 years of democracy, may have made huge strides on the political front, but much more needs to be done to bridge the socioeconomic class divide, according to experts.

In marking Freedom Day over the weekend, Acting President Gwede Mantashe conceded that South Africa was one of the world's most unequal societies, with many people losing hope.

"Poverty, unemployment and inequality are deep wounds that prevent SA from reaching its full potential.

"It is said that the richest 10% of South Africans own approximately 85% of the country's financial assets.

"Millions of people are unemployed or earn wages that cannot sustain them or their families," said Mantashe.