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Assessment at the end of the apartheid era highlighted major inequalities between white and black, and urban and rural areas. Twenty-six years into democracy, South Africa needs to distinguish between initiatives taken by the government to address the apartheid legacy, the actual changes made in education and the results thereof. Using qualitative research, various stakeholders of public schools were interviewed to determine their views of how the government’s funding policy had been implemented and whether equity is being addressed. Although historically disadvantaged schools now receive substantial state funding, these schools are still characterized by low pass rates, low teacher and learner morale, a resurgence of violence among learners, ineffective leadership by school managers, and poor governance by school governing boards