In Africa, four billionaires are richer than half of the continent

According to the classification established by Forbes magazine at the start of the year, the first four billionaires of the continent are the Nigerian Aliko Dangote (cement, sugar, fertilizers etc …), the South Africans Johann Rupert (luxury) and Nicky Oppenheimer (diamonds), as well as the Egyptian Nassef Sawiris (industry and construction).

The NGO explains that the digging of inequalities is largely linked to a lack of political will of African leaders. In addition, who maintain tax systems favorable to the richest and ineffective.

“The wealthy people who place their heritage in corporate structures and transfer their capital abroad (…) see their fortune multiply without being imposed proportional,” describes Oxfam.

“Taxing super rich would finance social protection for more than africa, four billionaires richer than new 800 million people worldwide”

The NGO stresses that. However, Africa is the only region africa. four billionaires richer than new in the world where countries have not increased effective tax rates since 1980.

According to the organization. tax the richest Africans by 1% more on their assets. 10% more on their income would finance access to education and electricity on the continent.

African governments “are on average among the least committed to reducing inequality,” said Oxfam.

“The research carried out by Oxfam shows that more than three -fifths of the fortune of billionaires. in the world come from the greed. from corruption, the abuse of monopolistic power and the inheritance”, which is “particularly true in Africa”.

“There is no shortage of the wealth of Africa. they are squandered by a rigged system that allows a small elite to raise immense africa, four billionaires richer than new fortunes while depriving hundreds of millions of people from the most basic services. ” said Fati N’zi-Hassane, director of Oxfam in Africa, africa, four billionaires richer than new criticizing this “political failure” in a press release.

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“Extreme inequalities threaten to undermine democracy. hinder poverty reduction and growth, aggravate the climate crisis, accentuate injustices between sexes and other injustices (…) and lead to denial of fundamental rights and the dignity of ordinary citizens,” said the NGO.

The report was published on the day of the opening of the semi -annual meeting of the African Union. which is committed to reducing inequalities by 15% on the continent during the next decade.

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