Food security crisis plagues South Africa. Photo: Food Forward SA/ web
Tough Economic pressures force thousands into poverty
Thousands of people in vulnerable communities are going through hard times due to tough economic pressures.
Food security crisis plagues South Africa. Photo: Food Forward SA/ web
Thousands of people in vulnerable communities are going through hard times due to tough economic pressures in present-day South Africa.
THE PLIGHT FACED BY MANY DUE TO TOUGH ECONOMIC PRESSURES
Food Forward SA, an organisation that raises funds to feed the poor, highlighted the plight of thousands of South Africans face on a daily basis to put food on the table.
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Andy Du Plessis, the Managing Director of Food Forward SA, highlighted how the poor live on borrowed money from loan sharks to buy food on a daily.
FOOD FORWARD SA SHARES SHOCKING STATS
In the report, Andy referenced data that showed that more than 800 000 consumers opted to utilise credit facilities to cope financially.
“In March, Eighty20, a data consulting company, released their Credit Stress Report which reveals that more than 800,000 new entrants came into the credit market in the fourth quarter of 2022. This compares with 600,000 the previous year, signalling a deepening debt spiral among over 18 million consumers – more than one-third of the population,” he referenced.
“While the report indicates that millions of middle-class South Africans are feeling the pinch and accessing the formal credit market to cover shortfalls amid a brutal cost of living crisis, there are millions more vulnerable people who simply do not come close to qualifying for credit.”
Andy Du Plessis
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According to the Pietermaritzburg Economic Justice and Dignity group’s Household Affordability Index for April 2023, 55,5% of South Africans live below the upper bound poverty line of R1,417 per month, while 25% of our population live below the food poverty line of R663 per month.
CURRENT ECONOMY NOT FAVOURING ALL IN THE COUNTRY
He added, “Since food prices determine food choices, households with meagre financial resources have almost no flexibility. They tend to run out of money to buy food well before the end of each month and must find other coping strategies to survive. These include eating less food, skipping meals, purchasing cheap, unhealthy and oftentimes unsafe food, and in desperation, turning to loan sharks, with dire consequences”.
Andy further commented on the tough economy.
“As a country, we are facing unprecedented volatility and uncertainty that seems to have no end in sight. While economic growth and an end to loadshedding are key to our recovery, this will not happen overnight. Access to nutritious food to the most vulnerable households is critical to ensuring the wellbeing and dignity of all, and the long-term stability of our country,” he concluded.
