Poverty on the rise in South Africa!

Last week, the SA Reserve Bank hiked the repo rate by 25 basis points to 3.75%, placing the prime lending rate at 7.25%. The AIDC believes this is callous and completely fails to comprehend the dire situation faced by the majority of people living in the country and reflects the class bias of the SARB. AIDC’s Dominic Brown spoke to Mervyn Abrahams, programme coordinator for the Pietermaritzburg Economic Justice & Dignity Group about how the interest rate hike will put added pressure on highly indebted South Africans. #TaxTheRich #WeAreHungry