You might be a young person who has recently graduated from university or college, your future is bright and you have landed your first job.
The fruits of your labour are not being fully enjoyed thanks to ‘black tax’. ‘Black tax’ is a colloquial term used to describe young black people who share their salary with immediate and extended family while trying to manage their own expenses.
Chief Financial Officer of the Savings Institute, Gerald Mwandimbira, said a family may often have one person who has graduated from university in a well-paying job.