Mbongeni Mshengu, Chimene Nukunah
Abstract
The colloquial term black tax is commonly used in South Africa to describe the financial support provided by Black middle class to their immediate and extended family members. In this study, a generic qualitative strategy is used to investigate the lived experiences of the Black middle-class citizens of South Africa regarding the effects of black tax on their ability to save, invest and create wealth. The findings suggest that while Black middle-class citizens subscribe to Ubuntu a term which is in direct contract to black tax, the lack of funds and poor financial literacy makes it difficult to save, invest and create wealth.