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Illiteracy is costing Africa's most developed nation $6.7 billion every year
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#education
#economics and country risk
Three million out of South Africa’s 60 million citizens lack basic education. Their lack of literacy and numeracy adversely affects the productivity and profitability of businesses.
A lack of basic education among three million of South Africa's citizens is costing the country's economy $6.7bn a year, according to a report from the World Literacy Foundation. The problem affects literacy and numeracy, with adult literacy at 87%, below that of developing countries including Mexico, Zimbabwe and Brazil. Illiteracy means businesses process incorrect orders, issue refunds and suffer communication problems. Illiterate people are estimated to earn 30-42% less than literate counterparts. The global cost of illiteracy is $1.19tn, with 770 million people globally unable to read a single word and two billion struggling with sentences.
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