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
What do Sars, Brangelina, #DataMustFall have in common? They broke the internet!

What do Sars, Brangelina, #DataMustFall have in common? They broke the internet!

7 most-read, most-talked-about "The Money Show" articles of the past week...

Spend too much? Here are 5 great tips for breaking the habit…

Spend too much? Here are 5 great tips for breaking the habit…

Financial Advisor Warren Ingram gives advice that can actually work.

What to consider before starting a business

What to consider before starting a business

Want to be your own boss? Business Leadership SA’s Khotso Seroto has advice on what to think about first…

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