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

In Africa. Similarly, inequalities are widening like nowhere else, the first four billionaires being richer than half of the continent’s population, underlines the NGO Oxfam in a report published Thursday, July 10.

More than a third of the africa, four billionaires richer than population of the continent lives below the extreme poverty line. In addition, or 460 million people, according to the World Bank, and the number of poor people continues to increase.

“Four of the richest billionaires in Africa today have a fortune of $ 57.4 billion. Similarly, more than the combined wealth of 750 million people, that is to say half of the population of the continent”Explique Oxfam.

According to the ranking established by the magazine Forbes At the start of the year. Consequently, 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).

“Dilapidated riches”

The NGO explains that the digging of inequalities is largely linked to a lack of political will of African leaders. who maintain tax systems favorable to the richest and ineffective. “Fortunate people who place their assets in corporate structures. transfer their capital abroad (…) see their fortune multiplying without being imposed proportional ”describes Oxfam.

The NGO stresses that Africa is the only region 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 and 10 % more on their income would finance access to education and electricity on the continent.

African governments are “Among the least committed to reducing inequalities”Is the oxfam. “The research by Oxfam shows that more than three -fifths of the fortune of billionaires in the world come from cronyism. corruption, the abuse of monopolistic power and inheritance”which is “Particularly true in Africa”.

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

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