Economy of South Africa
| Statistics | |
|---|---|
| GDP | $415.32 billion (nominal, 2021 est.) $861.93 billion (PPP, 2021 est.) |
| GDP rank | 35th (nominal, 2021) 32nd (PPP, 2020) |
| GDP growth | 0.8% (2018) 0.2% (2019e) −8.0% (2020f) 3.5% (2021f) |
| GDP per capita | $6,861 (nominal, 2021 est.) $14,239 (PPP, 2021 est.) |
Contents
How much of South Africa is wealthy?
Approximately 80% of total wealth is held by 10% of the adult population – but the biggest chunk of this is held by the top 1%. This can best be explained on a per-adult basis. According to Credit Suisse, wealth per adult in South Africa overall amounted to roughly $20,300 (R289,300) at the end of 2020.
Why is South Africa so wealthy?
South Africa is rich in a variety of minerals. In addition to diamonds and gold, the country also contains reserves of iron ore, platinum, manganese, chromium, copper, uranium, silver, beryllium, and titanium.Coal is another of South Africa’s valuable mineral products.
Is South Africa poor?
South Africa is one of the most unequal societies in the world. More than 50% of the population live in poverty. Despite notable gains in poverty reduction post-apartheid, poverty levels have remained consistently highest among women, black South Africans, people with disabilities, and those living in rural areas.
Who owns most of the money in South Africa?
“The top 10% of South African wealth holders own more than 85% of household wealth, while the top 1% wealth share reaches 55%,” the report read. The top 0.01% or about 3 500 individuals own a 15% share of household wealth, greater than the share held by the bottom 90% or 32 million individuals.
Which is the richest race in South Africa?
While Black South Africans have outnumbered Whites in the richest 10% of the population for about 7 years, the gap between South Africa’s richest and poorest hasn’t narrowed as the decline in racial inequality has been driven almost entirely by a surge in the top Black incomes rather than increased wealth for the
What is the wealthiest city in Africa?
Johannesburg
Nairobi
| City | Total Wealth (US $bn) | Multi-millionaires ($10m+) |
|---|---|---|
| Johannesburg | 226 | 790 |
| Cape Town | 123 | 390 |
| Cairo | 118 | 400 |
| Lagos | 88 | 260 |
Is South Africa a third world country?
South Africa is considered both a third and first world country.These regions put SA in the third world country category, because of extreme poverty, insufficient basic amenities, and other unpleasant factors.
What is a richest country in Africa?
Mauritius
On a wealth per capita basis, Mauritius is the wealthiest country in Africa, according to a new report by Mauritius-based AfrAsia Bank and wealth intelligence firm New World Wealth. Mauritius had about 1.6 million inhabitants in 2020, compared to SA at 59.31 million.
Is South Africa richer than India?
Out of 133 countries ranked by per capita GNP, India ranks as one of the poorest low-income countries, at position 23, above the very poorest. South Africa ranks at position 93, in the group of upper-middle-income countries. South Africa’s per capita income is close to 10 times that of India’s.
Is South Africa a good place to live?
In some regards South Africa is still regarded as an unsafe area to visit and in some areas poverty and crime are still rife. However, provided you exercise due care and caution while living in South Africa, as you should anywhere else in the world, you will generally find that people are friendly and welcoming.
What is Cyril Ramaphosa worth?
Ramaphosa is known to be one of the richest people in South Africa, with an estimated net worth of more than $450 million and has appeared in financial magazines such as Forbes Africa and Bloomberg.
Is Patrice Motsepe rich or wealthy?
In 2020, Motsepe was ranked as the 1,307th-wealthiest person in the world by Forbes, with a reported fortune of US$2.1 billion.
Is there a billionaire in South Africa?
They were followed by Johann Rupert and his family, with 7.1 billion U.S. dollars of net worth.
South Africa’s billionaires as of 2021 (net worth in billion U.S. dollars)
| Characteristic | Net worth in billion U.S. dollars |
|---|---|
| Nicky Oppenheimer & family | 8 |
| Johann Rupert & family | 7.1 |
| Patrice Motsepe | 2.9 |
| Koos Bekker | 2.9 |
How many billionaires does South Africa have?
five
South Africa has 36 500 dollar millionaires and five dollar billionaires. Egypt has the second-most dollar millionaires on the continent, followed by Nigeria, Morocco, Kenya and Ethiopia. However, Egypt has the most billionaires on the continent.
Where do Coloureds come from?
Coloureds are mostly found in the western part of South Africa. In Cape Town, they form 45.4% of the total population, according to the South African National Census of 2011. The apartheid-era Population Registration Act, 1950 and subsequent amendments, codified the Coloured identity and defined its subgroups.
How many rands do South African millionaires have?
36 000 millionaires
The report notes that South Africa has around 36 000 millionaires or HNWI, 1 930 multi-millionaires (+$10 million) and five dollar-billionaires.
Where do the wealthy live in South Africa?
Johannesburg
The largest city in South Africa, Johannesburg, is the wealthiest in Africa. This is according to a report published by New World Wealth for Mauritius-based AfrAsia Bank.
What is the poorest city in South Africa?
The major city with the lowest poverty rate is Cape Town (30%). Pretoria and Johannesburg have somewhat higher rates of 35% and 38%, respectively, while Durban has a rate of 44%. The poorest municipality is Ntabankulu in the Eastern Cape, where 85% of its residents live below the poverty line.
Did South Africa fight in ww1?
(See Jan Smuts during World War I.) South Africa was part of significant military operations against Germany. In spite of Boer resistance at home, the Afrikaner-led government of Louis Botha unhesitatingly joined the side of the Allies of World War I and fought alongside its armies.
Is South Africa rich?
For 2020, South Africa’s local currency GDP number of R4. 974 trillion was converted at a PPP rate of 1 international dollar = R6. 933 to scale the economy to $717.4 billion. Using this metric, South Africa had the 33rd largest economy in the world before rebasing the figure.
