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The creation and sustainability of the black middle class in the Western Cape
Author(s)
Mokotso, Makhotso
Date Issued
2009
Type
Thesis
Publisher
Cape Peninsula University of Technology
Abstract
In order to understand the phenomenon of the rising black middle class, Bruger et aI., (2004:134)
concluded in their study of the black middle class that, it was the asset deficit which was evident
in the African population that accounts for the difference in the consumption behaviour of the'
black middle class from their counterparts in other races. Asset deficit is described as the
accumulation of luxury goods that include expensive automobiles and property. When the
acquisition of such assets is gained through credit, as is the case with the credit worthy middle
class, the individual debt of these individuals rises as the acquisition of such assets continue.
The purpose of this study was to investigate the creation and sustainability of the black middle
class that anchored in political stability encourages social contentment and economic
development. The findings of this process offered an opportunity for the state, banks and
corporate organisations to review its policy priorities in order to make savings, investment and
'special structure' support networks a priority when dealing with sustainability matters for the black
middle class.
It is therefore, important that the recommendations provided in the study will sustain the black
middle class, which would maintain social peace by indicating economic progress that has only
now, since democracy, been available to Africans through the expansion of the black middle
class.
The thesis explains the challenges, which this class faces in its sustainability that will foster a
deeper appreciation of the most effective ways to alleviate poverty and to economically
enfranchise Africans. These had been the original objectives behind the government's
programmes and initiatives.
concluded in their study of the black middle class that, it was the asset deficit which was evident
in the African population that accounts for the difference in the consumption behaviour of the'
black middle class from their counterparts in other races. Asset deficit is described as the
accumulation of luxury goods that include expensive automobiles and property. When the
acquisition of such assets is gained through credit, as is the case with the credit worthy middle
class, the individual debt of these individuals rises as the acquisition of such assets continue.
The purpose of this study was to investigate the creation and sustainability of the black middle
class that anchored in political stability encourages social contentment and economic
development. The findings of this process offered an opportunity for the state, banks and
corporate organisations to review its policy priorities in order to make savings, investment and
'special structure' support networks a priority when dealing with sustainability matters for the black
middle class.
It is therefore, important that the recommendations provided in the study will sustain the black
middle class, which would maintain social peace by indicating economic progress that has only
now, since democracy, been available to Africans through the expansion of the black middle
class.
The thesis explains the challenges, which this class faces in its sustainability that will foster a
deeper appreciation of the most effective ways to alleviate poverty and to economically
enfranchise Africans. These had been the original objectives behind the government's
programmes and initiatives.
Additional information
Thesis (MTech (Public Management))--Cape Peninsula University of Technology, 2009
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The creation & sustainability of the black middle class in the Western Cape.pdf
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