A new report from Oxfam titled Africa’s Inequality Crisis and the Rise of the Super-Rich has laid bare the alarming extent of wealth disparity across the continent. According to the findings, just four individuals — Nigerian industrialist Aliko Dangote, South African businessmen Johann Rupert and Nicky Oppenheimer, and Egyptian billionaire Nassef Sawiris — now collectively possess $57.4 billion, more than the combined wealth of 50% of Africa’s population.
The report highlights a dramatic surge in wealth concentration. Since the turn of the millennium, the number of billionaires in Africa has risen from none to 23. The richest 5% of Africans now control nearly $4 trillion in wealth — a figure that is double the total held by the other 95%.
This rapid growth in extreme wealth stands in stark contrast to the worsening living conditions faced by the majority. Oxfam reports that around 850 million people across the continent are suffering from moderate to severe food insecurity — an increase of 20 million people since 2022.
The humanitarian organization warns that without bold policy changes, including the implementation of fairer taxation on the ultra-wealthy and increased public investment in social services, Africa could be headed toward long-term economic instability and deepened inequality.
Oxfam’s call to action urges governments to prioritize inclusive economic growth and confront the unchecked rise of extreme wealth at the top, arguing that failure to do so risks entrenching poverty and unrest for generations to come.
