FrankTalk addresses poverty and inequality
The Steve Biko Foundation hosted the FrankTalk dialogue at the Durban University of Technology (DUT) on Thursday.
IN recognition of South Africa’s sixth democratic general elections set to take place next month, the Steve Biko Foundation hosted the FrankTalk dialogue at the Durban University of Technology (DUT) on Thursday, aimed at reflecting on some of the critical challenges facing South Africa since 1994.
According to a recent Oxfam Global Inequality Report, the two richest South Africans’ wealth is equal to the poorest 50 per cent (ie. 26.5 million people) of the country. Furthermore, the Living Conditions Survey of 2014/15 by Statistics South Africa (StatsSA) found that South Africa had a Gini coefficient of 0.63 in 2015, the highest in the world.
The report further revealed that wealth inequality is even higher in South Africa than consumption inequality, with ownership of financial assets featuring prominently among factors that influence wealth inequality.
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“We have identified the issue of inequality as the key factor that affects almost every community in the country, and the overall running theme of the FrankTalk dialogue is focused on the theme of poverty and inequality. These dialogues are aimed at reflecting on some of the critical challenges facing South Africa since 1994. Today’s talk examines the South African economic trajectory looking at exactly what should be done to address and reduce poverty and inequality,” said Thando Sipuye from the Steve Biko Foundation.
Opening speaker, Professor Oliver Mtapuri from the University of KwaZulu-Natal (UKZN) said it was unfair to expect government to address these issues in 25 years, however he felt a change of policy was needed to alter the situation.
“The issues we are discussing now go back centuries, to during colonisation. That period was characterised by economic disposition, a lot of plunder, theft of property, land and livestock. Whoever was resisting was either killed or taken as slaves and that cannot be addressed in 25 years after so many years of subjugation,” said Professor Mtapuri.
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