Secretary-General of the United Nations (UN), Antonio Guterres, has commended South Africa’s (SA) efforts in spotlighting inequality as a global emergency. Guterres pointed out that the ultra-rich and the companies they control are increasingly wielding interest over economies, information and the rules that govern the world.
Delivering a virtual address at the establishment of the International Panel on Inequality by SA President Cyril Ramaphosa at Wits University, Guterres argued that the injustice of inequality must be confronted for a more sustainable future.
“But let’s be clear, inequality is not only about income or wealth, it’s about power, who holds it, who is denied it and how it shapes every chance in life. We share a world where billions lack the basics while a few reap extraordinary gains. A world where unfair global rules trap countries through patterns of vulnerability and dependence. A world where unequal outcomes lock in unequal opportunities tomorrow in education, in healthcare and every aspect of life and emerging technologies are accelerating the divide.”
Speaking at the same event, Ramaphosa says the decision to establish the International Panel on Inequality is one of the most consequential outcomes SA’s G20 Leaders’ Summit held last year.
Ramaphosa has emphasised that the decision to establish the panel arose from an appreciation by world leaders, that inequality severely constrains social and economic development.
He was delivering a keynote address at the event.
“It is astounding that between 2000 and 2024, the richest 1% of people in the world captured 41% of all new wealth. The poorer half of humanity captured just 1% of new wealth. The committee’s report provided evidence that inequality is a threat to democratic freedoms, to economic growth and to general well-being. It would be a mistake to think that inequality is bad only for the poor. Inequality threatens the stability of societies and the sustainability of economies.”
—SABC—
