A new report by Oxfam has revealed that just four of Africa’s wealthiest individuals—including Egyptian businessman Nassef Sawiris—collectively hold more wealth than half of the continent’s 1.2 billion people.
According to the report, the net worth of these four individuals has reached record levels in recent years, growing at rates that significantly outpace the economic growth of many African nations. This trend highlights the widening inequality gap across the continent.
The wealth of these billionaires is concentrated in key sectors such as heavy industry, telecommunications, banking, and real estate—sectors that play a critical role in Africa’s development but whose returns are largely confined to a narrow elite.
Oxfam’s report calls for the implementation of fair taxation policies, increased transparency in wealth distribution, and greater investment in public services such as education, healthcare, and infrastructure.
These measures, the report argues, are essential to bridging the gap and promoting inclusive economic development across the continent.
The report further stresses that wealth inequality remains one of the most pressing challenges facing Africa’s future, urging policymakers to address the systemic roots of disparity and ensure a more balanced and equitable economic framework.
