SA’s two richest people have wealth equal to the poorest 26.5-million - Oxfam

South Africa remains the most unequal country in the world with the two richest South Africans (Johann Rupert and Nicky Oppenheimer, according to Forbes) having wealth equal to the poorest 50 percent (i.e. 26.5-million people) of the country, according to an Oxfam global inequality report.

Click here to read “Even it Up”, Oxfam’s report on extreme inequality or here to read another Oxfam report on inequality entitled “Working for the Few”.

Some of the claims made by Oxfam (in addition to those already mentioned):

• Only 360 of highest earners in South Africa pay their fair share of taxes.

• Inequality in South Africa is worse today than at the end of Apartheid.

• R350-billion flows out of South Africa illegally through corporations.

• Land reform is increasing inequality and about 35 000 farmers create 80 percent of all produce. A few large corporations have a massive influence.

• Unemployment is biggest driver of poverty in South Africa. Poverty is most severe amongst the elderly, young adults and children.

• One in four South Africans right now are hungry with nothing to eat.

Oxfam is an international confederation working 94 countries worldwide to find solutions to poverty and what it considers as injustice around the world.

Read More
3 hot tips on which shares to buy right now (by Nedbank Private Wealth)

3 hot tips on which shares to buy right now (by Nedbank Private Wealth)

It’s Stock Pick Monday! Bruce Whitfield interviews Dino Voulakis, Senior Portfolio Manager at Nedbank Private Wealth.

What will happen to YOUR money if Finance Minister Pravin Gordhan is charged?

What will happen to YOUR money if Finance Minister Pravin Gordhan is charged?

The news is NOT good! The Money Show’s Bruce Whitfield interviews Goldman Sachs SA MD Colin Coleman.

How to make your first million

How to make your first million

Warren Ingram discusses his new book in which he shares practical ways for ordinary people to achieve financial freedom.

The significance of World Food Day

The significance of World Food Day

Today marks 'World Food Day', Xolani reflects on how we can deal with the issue of food insecurity in South Africa.

On World Food Day, everyone has the answers!

On World Food Day, everyone has the answers!

On World Food Day, we are reminded that solutions to the world's hunger problems are in our hands

Hidden hunger holding South Africa back - Oxfam

Hidden hunger holding South Africa back - Oxfam

One in four South Africans are constantly hungry in spite of our farms producing more than what country needs