THE SEVERITY and incidence of poverty is likely to increase this year according to the South African Reconciliation Barometer, released this week by the Institute for Justice and Reconciliation. The report also indicates that banks are going to be less likely to increase credit limits to customers in the face of the country’s struggling economy.
The authors of the report, Jan Hofmeyr and Jajen Govender, said it would be unthinkable that under the current circumstances, the country’s social security net will expand at the same rate as it did during most of the previous decade.
At a time when the country’s growth prospects can be described as anaemic at best, with a real possibility of it entering a recession, a similar deterioration in the living conditions of the poor is almost certain to occur.
The report concluded that despite the percentage of people living in poverty declining until 2011, since then, there had been and would continue to be rising poverty levels with the severity increasing this year. Staff Reporter
BBN Comment: This is why we as South Africans should become Future Smart and Future Ready so that we are better prepared to weather the challenges of the future. Perhaps even see them as opportunities. Doing the Challenge Champion and Entrepreneurship in a Hurry! Workshops would, in our opinion, be a future smart decision. At the same time join the BBN Business, Public and Youth Network so that we work together, taking hands and embracing the BBN 5-Star Community Challenge as the legacy for our children and posterity. In this way we work together to build the bridges nationwide of hope and scope with practical plans. Visit www.savision2020.org.za