Durban, South Africa – Greenpeace Africa has demanded G20 host and South African President Ramaphosa push ahead on accelerating efforts to impose a wealth tax on the world's billionaires and to support the UN Tax Convention for new and fair global tax rules.
Ahead of the G20's 3rd Finance Ministers and Central Bank Governors' meeting, Greenpeace Africa activists dropped a 15 metre long x 2 metre high banner from a highway bridge near King Shaka International Airport with a photo of Cyril Ramaphosa and a message that said: 'End Financial Apartheid. Tax The Super Rich'.
Cynthia Moyo, Lead Campaigner, Greenpeace Africa, said: "It's outrageous that billionaires keep getting richer off a broken global tax system while millions across Africa and the world are pushed deeper into poverty and climate chaos. This is financial apartheid. South Africa understands the cost of injustice. Just as Mandela led the fight against political apartheid, President Ramaphosa now has a chance to lead the G20 in dismantling financial apartheid by taxing the super-rich and backing the UN Tax Convention. This is a fight for justice, dignity, and a future where wealth serves people, not the powerful few."
The action comes after an announcement at the UN Financing for Development conference that Spain, Brazil and South Africa are launching an initiative to tax the super-rich and the recent BRICS statement in support of the UN Tax Convention.[1] [2] [3]
Fred Njehu, Global Political Lead of the Fair Share campaign, Greenpeace Africa, said: "We are on the cusp of momentous change. There is growing public and political momentum for taxing the super-rich and new global tax rules that work for all to achieve social and climate justice.
"This is a historic opportunity for President Ramaphosa, who must seize this chance to lead the G20 in an economic direction that will serve not only the people of South Africa and the continent, but the majority world, by redistributing funds to tackle the social, environmental and climate polycrisis.
"We ask G20 countries to support and engage constructively in the UN Tax Convention process as a global multilateral platform that will shape and determine the future of taxation, one rooted in transparency, accountability, equity and justice."
Globally, billionaire wealth grew three times faster in 2024 than in 2023.[4] In Africa, the four richest people have more wealth than half of the region's 750 million people combined. Since 2020, the average income of the richest 1% in Africa has increased five times faster than that of the bottom 50%.[5]
