Over the last two years, news bulletins about the state of middle-class South Africa have depicted a negative time of declining fortune and lots of strife. But, according to author Brandon de Kock, the facts and data suggest that the glass is actually ...
During its 2022/23 fiscal year, the government expects personal tax income, which is collected from employed people in South Africa, to be R72-billion more than the amount generated during the previous financial year.
In a Maverick Webinar, author Brandon de Kock, story-telling director at consumer insights consultancy WhyFive, suspected that the economy has staged a recovery from its Covid-induced crash, that more people are back into jobs and the take-home pay of consumers has recovered to pre-pandemic levels.
One of the stories is about wealthy people leaving the country, which came from the annual New World Wealth report. Within the story, the institute claims that the South African middle class shrunk from 6.1 million to 2.7 million individuals between 2017 and 2020. The figures show that we obsess over the wrong things — it seems we should be more positive about business, he said.People claiming that the middle class is disappearing must “start listening to all the commentators and not just the negative ones who are supporting a negative narrative,” De Kock said.
“Mobility is the key card to the locker-room of the middle class,” said De Kock. “The moment you get yourself off public transport and your own car, you are on the middle class and up journey.”
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