‘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

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Article brought to us by Old Mutual.


This article first appeared on 702 : ‘3 richest South Africans have wealth equal to the poorest 28 million’ – Oxfam


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