Rich List proves huge inequalities

The Sunday Times list of the top richest people in South Africa highlights the fact that this country is "the world's most unequal society" according to Patrick Craven, spokesman for the Congress of South African Trade Unions (Cosatu).

6 Sep 2011

Fin24 says that the list showed that South Africa's 20 wealthiest people were collectively worth R112,2-billion and their wealth had risen by 58,96% in the past two years. The wealth of the Top 100 had increased by 62,19% in the same period.

Craven says that these figures make nonsense of the fact that companies need to pay huge sums to retain top skills. He says that Cosatu will press ahead with its campaign to raise wages for ordinary workers.

In a separate development, Cosatu's KwaZulu-Natal branch is pushing for a resolution that will require its leaders in the province to declare their financial and business interest.

News24 quotes Cosatu's provincial secretary Zet Lusipo saying that he organisation will lobby for this to happen at a national level. He says that Cosatu cannot "lead the workers and become part of the exploiters".