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  • Essay / South Africa's challenges today - 920

    South Africa has been plagued by racial inequalities and economic disparities for centuries. Black people were relegated to the rank of simple servants of the white population. Apartheid, which lasted from 1948 to 1994, widened this gap between the races. When the apartheid nationalist government lost power in 1994, the new ANC spoke of economic prosperity for all South Africans; However, economic disparities continue to plague South Africa, and there is still a strong correlation between total income and race. South Africa has one of the highest Gini coefficients in the world, a measure of income inequality. On a scale of 0 to 100, with 0 representing perfect equality and 100 representing complete inequality, South Africa's Gini coefficient is 63. For South Africa to become a more prosperous and prosperous country, it must invest massively in economic and infrastructure programs. development because the growth of infrastructure and the economy that comes with it will benefit both the government and the people, this is also a high priority because much of our infrastructure is collapsing, and this will increase the level of life that people enjoy. We can invest in our economy both through large projects and through smaller loans given to individuals to help them start their own businesses (microcredit); therefore, due to the high priority given to investment in our economy, it is necessary that 40% of the grant be dedicated to financing economic development and infrastructure; it is necessary because large infrastructure projects provide building blocks on which people can build a better and more advanced society, while small projects focus on individuals and their lives. In attempting to improve the economy at both the governmental and individual levels, it...... middle of document ...... 97-102. Washington, DC: World Bank, 2008. McGroarty, Patrick. “South Africa’s GDP grows in 2013.” The Wall Street Journal, February 25, 2014, US edition, Africa News. Accessed February 25, 2014.MFRC “Micro Finance in South Africa”. MFRC Last modified 2014. Accessed February 25, 2014. http://www.mfrc.co.za/.South African Government. “Key Issues – National Infrastructure Plan”. South African Government Online. Last modified 2013. Accessed February 25, 2014. http://www.gov.za/issues/national-infrastructure-plan/index.html.Thomas, Landon, Jr. “Coins in Finance: After the fall of the BRICs, the “Fragile Five”. The New York Times, January 28, 2014, New York edition, International Business. Accessed February 26, 2014. http://www.nytimes.com/2014/01/29/business/international/fragile-five-is-the-latest-club-of-emerging-nations-in-turmoil.html? _r=0.