Home Lifestyle eSwatini ranked Africa’s most unequal income country

eSwatini ranked Africa’s most unequal income country

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A recent report by Oxfam Wealth Report, titled “A Tale of Two Continents: Fighting Inequality in Africa” has ranked eSwatini the most unequal income countries in Africa.

The report which was distributed during the World Economic Forum for Africa summit led by President Cyril Ramaphosa in South Africa, stated that eSwatini was the leading country followed by Nigeria, South Africa and Namibia in terms of unequal income.

“There is little doubt that this economic divide stands stubbornly in the way of a brighter future for the continent,” the report said.

The report revealed that the richest 0.0001 percent own 40 percent of the continent’s entire wealth, meaning wealth inequality in the continent was also increasing.

“While the richest Africans see their wealth grow thanks to healthy returns on their investments and capital, too many others struggle to earn a decent living from their labour.”

“Today, there are 20 billionaires in Africa, living alongside 413 million people in extreme poverty. South Africa is home to five of these billionaires, as well as 50 000 millionaires,” read the report.

Colonisation and expropriation of resources continue to haunt eSwatini and other African countries, said the Coordinating Assembly of Non-Governmental Organisations (CANGO).

“eSwatini has to act on the findings of the report by eliminating the economic differences between the poor and the rich,” said Nkosingiphile Myeni of CANGO.

Meanwhile, statistics from the World Bank, show that approximately 39.7 percent of eSwatini’s population lived under the international 1.90-dollar poverty line in 2017 and 2018.

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