The richest 4 billionaires in Africa have more money than half of the continent’s population

Africa has mind -blowing disparities. Consequently, The combined fortune of the four richest people on the continent is greater than half of the population.

It is an amazing contrast: in Africa. Furthermore, the first four billionaires are richer than half of the continent’s population, underlines the NGO Oxfam in a report published Thursday.

Inequalities are widening from nowhere on the African continent. Moreover, More than a third of the continent’s population lives below the extreme poverty line. 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, more than the combined wealth of 750 million people, that is to say half of the continent’s population,” said Oxfam.

According to the ranking established by Forbes magazine at the start of the year. the first richest 4 billionaires africa have four billionaires of the continent are the Nigerian Aliko Dangote (cement, sugar, fertilizers, etc.), the South Africans Johann Rupert (luxury) and Nicky Oppenheimer (Diamants), 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. 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.

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.

Creative, corruption, abuse of power – Richest 4 billionaires africa have

African governments “are on average richest 4 billionaires africa have 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 fortunes while depriving hundreds of millions of people from the most basic services,” said Fati N’zi-Hassane, director of Oxfam in Africa, criticizing this “political failure” in a press release.

“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 richest 4 billionaires africa have 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.