South Africa has commissioned a report on global wealth inequality ahead of the G20 summit it will host in November.
American Nobel Prize-winning economist Joseph Stiglitz will lead a team of six experts to compile the report for world leaders.
The report comes as Oxfam revealed the wealth of the richest 1% has surged by \$33.9 trillion since 2015.
Oxfam highlighted that nearly half the world’s population, 3.7 billion people, continue to live in poverty amid these gains.
The charity also warned that wealthy governments are cutting development aid for poor nations at record rates since 1960.
South Africa itself ranks among the world’s most unequal countries, grappling with stark disparities despite economic progress.
The government says it aims to prioritise the needs of poorer nations during its G20 presidency, advocating for fairness.
The G20 summit includes 19 major economies, as well as the European Union and African Union, shaping global policies.
Tensions surfaced as U.S. President Donald Trump suggested he might skip the summit due to strained ties with South Africa.
The upcoming report seeks to place inequality and development at the heart of international dialogue this November.
