Nearly 12 million South Africans now account for almost half of the country's cash-flow income.
Nearly 12 million South Africans now account for almost half of the country's cash-flow income, underscoring the growing economic influence of a consumer segment that has long been overshadowed in discussions about financial inclusion.
According to research commissioned by Metropolitan and conducted by the Bureau of Market Research, South Africa's "foundation market" comprises an estimated 12.2 million adults — about 26.3% of the adult population — who collectively generate R2.83 trillion in annual cash-flow income, or 48.5% of the country's total.
The research defines cash-flow income as the actual income-related inflows individuals receive before tax and other deductions.
Rather than being confined to low-income households, the foundation market spans the lower and upper emerging middle class and the realised middle class, with monthly incomes ranging from about R5,800 to R62,700.
