Sofia Svarfvar (EJN) and Sandisiwe Ncube presented the findings of their research on the social impacts on the financial crisis in South Africa at a round-table meeting in Johannesburg, 29 October, represented by various stakeholders.

The report emphasises that while South Africa has not yet felt the full brunt of the global recession, the punch it has taken so far is setting off an economic crisis in a country already struggling with inequality, high food prices, high inflation and high unemployment rates.

The situation is tragic at the individual level as well as at macro-level, holding dire implications for the country’s economic performance and its ability to reduce poverty. The effects of reduced income are seen in falling living standards, heightened inequality, and people’s greater hardships in accessing basic services. Newly unemployed people are resorting to more informal means of survival such as crime, prostitution and illegal mining, which in turn open the door to further exploitation and abuses of human rights.

The research is a part of larger project carried out by the Economic Justice Network (EJN) and funded by OSISA. The aim is to study the social impact of the global financial crisis in the Southern African Development Community (SADC) region. Six case studies were undertaken: Botswana, Angola, Malawi, the Democratic Republic of Congo (DRC), South Africa and Mozambique.

To view the policy brief, please click here.

To view the full research report, please click here .

To view the research report in Portuguese, click here.