Statistics South Africa 2022/23 Income and Expenditure survey shows that black households face severe financial constraints compared to White, Indian, Asian and Coloured households.
The income of black households which averages R143 000 annually is well below the South African average.
The average income among white households is just over R670 000, Indian and Asian average just over R400 000 annually, and Coloured households’ income averaged R260 000 annually.
Statistician-General Risenga Maluleke releases the survey in Pretoria on Tuesday.
“When we look at the gap between what the white population group earns and what they spend, the gap is much bigger meaning that the white population group has more disposable income and they afford some savings compared to the Indian/Asian population group, compared to the coloured population group and when we go to below average for black Africans, the gap is very narrow so there’s very little space to wiggle.”
