OWNERSHIP OF ASSETS:
NEVA MAKGETLA: More must be done to level playing field
Transfer of control in the dominant conglomerates is bound to prove both expensive and disruptive
Decades ago, Billy Holiday used to sing "God bless the child that’s got his own." In SA, this still holds true. The inequalities in ownership of assets — whether investments in a business, financial holdings or land – underpin differences in income and access that still shape the economic and social landscape. Holiday also sang, "Them that’s got shall get, them that’s not shall lose." Unequal riches are central to the reproduction of inequality. For some, accumulated – often inherited – wealth provides a source of economic power, but also income to supplement wages; a cushion against retrenchment; leverage for housing bonds; and resources for education and healthcare. But most people don’t have that luxury. The divisions are deepest by class, but also align with race and gender. Even if they have a decent salary, most black people, especially women, have fewer assets than their white peers because their families were historically barred from accumulating wealth. As a result, even be...