Oxfam: 4 wealthy people in Africa richer than half of the continent economy

A report of the Oxfam Non -governmental organization showed that the lack of equality is increasing in Africa more than anywhere in the world, as it has become 4 of the richest billions richer than half of the continent’s population.

More than a third of the continent’s population lives below the extreme poverty line, equivalent to 460 million people, according to the World Bank, while the number of poor people continues to rise.

The organization said in its report that “4 of the richest billions in Africa today have a wealth of $ 57.4 billion, which is more than the total wealth of 750 million people, or half of the continent’s population.”

4 billionaires

According to the classification prepared by “Forbes” magazine at the beginning of the year, the richest 4 in the continent are

• Nigerian Alco Dangoty (works in the field of cement, sugar, fertilizers, etc.).
• The South African Johann Robert (luxury goods) and Nikki Obenheimer (diamond).
• And the Egyptian Nassef Sawiris (industry and construction).

The organization pointed out that the expansion of the disparity gap is especially related to the lack of political will by African leaders who maintain tax systems conducive to the rich and ineffective.

“The wealthy who invest their assets in institutional structures and transport their capital abroad (…) see their wealth multiplied without imposing commencement taxes on them.”

She added that Africa It is the only region in the world whose countries have not raised actual tax rates since 1980.

The organization pointed out that imposing taxes on 1% of the origins of the richest Africans and 10% of their entry would help finance access to education and electricity in the whole continent.

The source of wealth

Oxfam estimated that “African governments are on average among the least involved in reducing the lack of equality.”

“Research conducted by Oxfam indicates that more than three fifths of the wealth of the world’s billionaires come from favoritism, corruption, misuse of monopolistic authority and inheritance,” which is a matter that applies, especially in Africa“.

The report was published on the opening day of the half annual meeting of the African Union, which pledged to reduce the disparity gap by 15% on the continent during the next decade.