<\/p>\n
Delivering a keynote address on Friday at the Wits School of Governance in Johannesburg, Ramaphosa said the establishment of an International Panel on Inequality marks a significant step towards addressing what he described as a global crisis.<\/p>\n
<\/p>\n
The initiative emerged as a key outcome of the G20 Leaders\u2019 Summit, where world leaders recognised inequality as a major constraint on development. \u201cInequality is one of the greatest threats to human progress,\u201d Ramaphosa said, adding that it limits opportunity, entrenches poverty and prevents billions from realising their potential.<\/p>\n
<\/p>\n
He highlighted stark global disparities, noting that between 2000 and 2024, the richest 1% captured 41% of new wealth, while the poorest half of the global population gained just 1%.<\/p>\n
<\/p>\n
Ramaphosa said the International Panel on Inequality would build on the work of an expert committee led by Nobel laureate Joseph Stiglitz, which produced a report outlining the drivers and consequences of inequality.<\/p>\n
<\/p>\n
Ramaphosa warned that inequality not only harms the poor but also undermines economic stability and democratic institutions. He said it exacerbates the effects of climate change and contributes to global instability.<\/p>\n
<\/p>\n
The panel, he added, will provide evidence-based analysis to guide governments, multilateral organisations and civil society in crafting policies to reduce inequality within and between countries.<\/p>\n
<\/p>\n
Ramaphosa stressed that no country can tackle inequality alone, calling for coordinated multilateral action and reforms to global financial systems to better support developing economies.<\/p>\n
<\/p>\n
He urged governments to invest in education, healthcare and social protection, while implementing policies that promote fair taxation, job creation and environmental sustainability.<\/p>\n
<\/p>\n
At a global level, he called for reforms to institutions such as the United Nations Security Council to ensure they better support peace and development.<\/p>\n
<\/p>\n
Ramaphosa also emphasised the need to honour climate finance commitments and support just energy transitions in developing countries.<\/p>\n
<\/p>\n
He said the success of the new panel would depend on collective action, urging leaders worldwide to support its establishment as a permanent body. \u201cThe panel can provide the evidence and recommendations,\u201d he said. \u201cBut it is up to all of us to act with urgency to build a more equal and just world.\u201d<\/p>\n
–ChannelAfrica–<\/p>\n","protected":false},"featured_media":32945,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-32944","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"South Africa's (SA) President Cyril Ramaphosa has called for urgent global cooperation to tackle inequality, warning that widening disparities threaten economic growth, democracy and human progress.","published_date":"","news_description":"South Africa's (SA) President Cyril Ramaphosa has called for urgent global cooperation to tackle inequality, warning that widening disparities threaten economic growth, democracy and human progress.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/32944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/32944\/revisions"}],"predecessor-version":[{"id":32946,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/32944\/revisions\/32946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/32945"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=32944"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=32944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}