A new report has revealed a stark and growing wealth gap in Africa, showing that just four of the continent’s wealthiest individuals now own more than half of its population combined.
According to an analysis by British charity Oxfam, Nigerian industrialist Aliko Dangote, South African businessmen Johann Rupert and Nicky Oppenheimer, along with Egyptian billionaire Nassef Sawiris, collectively control $57.4 billion—a sum that surpasses the total wealth held by 750 million Africans.
Oxfam’s findings highlight the deepening crisis of economic inequality across Africa, with nearly 25 of the 50 most unequal countries globally located on the continent. The report also reveals a stark gender wealth gap, stating that men in Africa own three times more wealth than women, the highest disparity of any region in the world.
In a year when South Africa assumes the G20 presidency, becoming the first African nation to lead the global economic forum, Oxfam has urged the continent’s leaders to take decisive action.
“To fight inequality both at home and globally by demanding taxation of the rich,” the organization stated.
The report adds momentum to growing international calls for wealth redistribution, progressive taxation, and structural reforms aimed at closing the inequality gap that continues to widen in many parts of the world—including Africa. ref: Oxfam/Forbes/agency
