There are only 7.4m

Finweek English Edition - - In Brief -

tax­pay­ers, who have al­ready been squeezed so much that some an­a­lysts be­lieve lo­cal taxes are be­com­ing de­struc­tive to the coun­try’s tax base, which pays for so­cial grants sup­port­ing 17m South Africans.

The to­tal net wealth of three bil­lion­aires in the coun­try is equiv­a­lent to that held by the bot­tom 50% of the pop­u­la­tion, while the rich­est 1% holds 42% of the wealth.

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