South Africa’s black middle class has more than doubled over the last eight years, growing 250% from 1.7 million South Africans in 2004 to an estimated 4.2 million last year.
This dramatic growth has been revealed by new research conducted by the UCT Unilever Institute of Strategic Marketing. The Unilever Institute’s latest study on the black middle class, entitled 4 Million and Rising, has found that the annual spend of the black middle class began pulling ahead of their white middle class counterparts in 2008. It has since skyrocketed to over R400 billion per annum. Read more in TREND. ‘Black middle class crucial to economic health’.
Source: Unilever/UCT Institute
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