R1.3 trillion in SA GPD growth could be lost if child poverty not addressed - study
The finding comes from a recent study conducted by the Nelson Mandela Children's Fund and Deloitte, which was launched today at the June 16 Memorial Acre in Soweto.
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JOHANNESBURG - South Africa could face an estimated loss of R1.3 trillion in gross domestic product (GDP) growth if child poverty is not urgently addressed.
The finding comes from a recent study conducted by the Nelson Mandela Children's Fund and Deloitte, which was launched on Saturday at the June 16 Memorial Acre in Soweto.
Fund CEO Dr Ncube-Nkomo, along with Gauteng Agriculture MEC Vuyiswa Ramokgopa, and a panel of leaders from Brand SA and the Department of Social Development, shared the study's findings, emphasising key areas that require immediate attention.
Deloitte's sustainability officer, Ashleigh Theophanides, said child poverty posed a significant threat to the overall economy.
"The state could be losing R1.3 trillion in potential income that could be earned by getting the right level of returns on investment. A caveat on this figure that I just shared is that the entire cost of child poverty can only be determined by monitoring the entire system and reconsidering all these interrelated variables. So, we do need to re-look at how we are investing in children so that we can change the results that are currently reflected."