Glaring West African wealth inequality flagged

West Africa suffers the most wealth inequality on the continent, a report by Oxfam and Development Finance International has revealed. The ‘West Africa Inequality Crisis’ report notes that six of the 10 fastest-growing economies are in West Africa, with Ivory Coast, Ghana and Senegal among the world's leaders in terms of economic growth. ‘In most countries the benefits of this unprecedented economic growth have gone to a tiny few,’ the report said. ‘Inequality has reached extreme levels and the wealthiest one percent of West Africans own more than everyone else in the region combined.’ A report on the News24 site notes that it said most West Africans are ‘denied the most essential elements of a dignified life, such as quality education, healthcare and decent jobs’. In Nigeria, for example, the wealth of the five richest Nigerian men combined stands at $29.9bn – more than the country's entire budget in 2017.

Full Fin24 report