‘3 richest South Africans have wealth equal to the poorest 28 million’ – Oxfam

The three billionaires are Christo Wiese of Brait SE, Ivan Glasenberg of Glencore and Stephen Saad of Aspen Pharmacare.

Ayabonga Cawe, Oxfam SA

By every single measure there has been declining inequality in the actual living standards of ordinary South Africans.

Leon Louw, Free Market Foundation

Oxfam South Africa research found that three billionaires in the country have the same wealth as the bottom 50%.

It accuses the rich of dodging taxes and using their power to influence politics.

Oxfam further claims that the richest eight people in the world – all of them men – own as much wealth as the poorest half of the world.

The Money Show’s Bruce Whitfield interviewed Oxfam South Africa’s Ayabonga Cawe and Leon Louw of the Free Market Foundation.

For more detail listen to the interview in the audio below (and/or scroll down for more quotes from it).

We envision an economy driven by the needs of the 99%.

Ayabonga Cawe, Oxfam SA

Income inequality is driven by policy.

Ayabonga Cawe, Oxfam SA

The State must play a much larger role in terms of the delivery of services.

Ayabonga Cawe, Oxfam SA

Tax avoidance is a key driver of inequality.

Ayabonga Cawe, Oxfam SA

Oxfam produces what I call ‘OxScam’.

Leon Louw, Free Market Foundation

Oxfam admits that poverty has virtually vanished from the planet.

Leon Louw, Free Market Foundation

A decade ago there were only a million black, middleclass South Africans. Today there are 6 million!

Leon Louw, Free Market Foundation

Oxfam does not care about The Poor at all! It’s only obsessed with The Rich!

Leon Louw, Free Market Foundation

Oxfam hates the fact that The Poor are no longer poor.

Leon Louw, Free Market Foundation

People’s living standards are rising by every measure imaginable.

Leon Louw, Free Market Foundation

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


Recommended

by NEWSROOM AI
Read More
3 best JSE and offshore shares to buy, right now (by Anchor Capital)

3 best JSE and offshore shares to buy, right now (by Anchor Capital)

The Money Show’s Bruce Whitfield asks Henry Biddlecombe (an analyst at Anchor Capital) for his stock picks of the week.

I haven’t saved. I intend to work well into my 100s - Leon Louw (FMF)

I haven’t saved. I intend to work well into my 100s - Leon Louw (FMF)

Bruce Whitfield talks to Leon Louw (Free Market Foundation) about his attitude toward money (hopes, fears, successes, failures...)

Capitec Bank has the strongest brand of any company in South Africa

Capitec Bank has the strongest brand of any company in South Africa

Castle Lager came in second, followed by FNB, Black Label, Discovery and Vodacom, according to the 2019 Brand Finance report.

Poverty and inequality declined between 2006 and 2011 – Standard Bank report

Poverty and inequality declined between 2006 and 2011 – Standard Bank report

"The share of the population living in poverty fell from 57.2% to 45.5%, partly due to the aggressive expansion of social grants."

Most Influential Book of 2014: Capital in the Twenty-First Century (Piketty)

Most Influential Book of 2014: Capital in the Twenty-First Century (Piketty)

Gill Marcus calls it “one of the most important books of this century”. 5 thought leaders debate Thomas Piketty’s tour de force...

"The best place to be poor is where the richest people are" - Leon Louw

"The best place to be poor is where the richest people are" - Leon Louw

Jesus said poverty will always be with us. He was right, because poverty is relative, says the Free Market Foundation’s Leon Louw.

Popular articles
I think Zuma has an exaggerated sense of self-importance - Dr Mufamadi

I think Zuma has an exaggerated sense of self-importance - Dr Mufamadi

ANC stalwart Dr Sydney Mufamadi questions why Zuma is bringing up the names of the alleged spies only now.

'Batchelor was once close to Mikey Schultz and self-confessed Kebble killers'

'Batchelor was once close to Mikey Schultz and self-confessed Kebble killers'

Journalist and author Mandy Wiener describes former footballer Marc Batchelor's links to alleged underworld figures.

'Calculated move by media to undermine Public Protector, I don't accept apology'

'Calculated move by media to undermine Public Protector, I don't accept apology'

Former Sars employee Bizoski Manyike responds to the Sunday Times article that called him a 'dope-smoking Rastafarian'.

Capitec Bank has the strongest brand of any company in South Africa

Capitec Bank has the strongest brand of any company in South Africa

Castle Lager came in second, followed by FNB, Black Label, Discovery and Vodacom, according to the 2019 Brand Finance report.

I haven’t saved. I intend to work well into my 100s - Leon Louw (FMF)

I haven’t saved. I intend to work well into my 100s - Leon Louw (FMF)

Bruce Whitfield talks to Leon Louw (Free Market Foundation) about his attitude toward money (hopes, fears, successes, failures...)

3 best JSE and offshore shares to buy, right now (by Anchor Capital)

3 best JSE and offshore shares to buy, right now (by Anchor Capital)

The Money Show’s Bruce Whitfield asks Henry Biddlecombe (an analyst at Anchor Capital) for his stock picks of the week.

Advisor scams pensioners out of R100 million with promises of 14% returns

Advisor scams pensioners out of R100 million with promises of 14% returns

Bruce Whitfield interviews Phillip de Wet (Business Insider), Robert Walton (Boutique Collective Investments) and Brandon Topham.

'I should have told the Sunday Times the pot smoking was irrelevant'

'I should have told the Sunday Times the pot smoking was irrelevant'

Investigative journalist Jacques Pauw says he's sorry for any harm caused in his article on Mkhwebane and her principal witness.