• In 2000, Africa had no billionaires. Today it has 23 whose combined wealth has soared by 56% in just the past five years, reaching a staggering $112.6 billion.
• Africa’s richest 5% hold nearly $4 trillion in wealth – more than double the combined wealth of the rest of the continent.
• Despite soaring poverty, African governments show least commitment to reducing inequality, and that commitment has declined since 2022.
• An extra 1% tax on wealth and 10% tax on income of Africa’s richest 1% could raise $66 billion annually, more than enough to close the funding gaps for free quality education and universal access to electricity.