Sunday, February 05, 2006

Young, rich, black... and driving "their" African boom

South Africa's upwardly mobile professionals are flaunting their new wealth. But while they thrive in a resurgent country, impoverished millions are still struggling to survive in the townships Rory Carroll in Johannersburg Sunday February 5, 2006 M&G

They drive sleek cars, dress to kill and spend like there's no tomorrow. Twelve years after the demise of apartheid, the children of South Africa's revolution have found a way to celebrate freedom: shopping.

In ways unimaginable to their grandparents, a generation of black upwardly mobile professionals, dubbed 'buppies', is splashing out in a display of power and wealth that is driving a consumer boom. From Cape Town to Johannesburg, retailers report record sales in property, fashion, jewellery and luxury vehicles, a giddy exuberance amid the economy's sixth successive year of growth.

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