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Bomikazi Zeka, Assistant Professor in Finance and Financial Planning, University of Canberra

Retired women in South Africa carry a huge burden of poverty

Paballo Thekiso/AFP via Getty Images

South Africa’s president, Cyril Ramaphosa, recently acknowledged that “South Africa needs a new consensus to deal with poverty, unemployment and inequality”.

Despite the government’s efforts to address poverty through the provision of state grants, it’s still on the rise. In 2020, it was reported that half of the population was experiencing hardships that have pulled individuals and households into poverty.

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