South Africa Starts G20 Team to Fix Global Wealth Gap

South Africa’s President Cyril Ramaphosa kicked off a new G20 taskforce to tackle the growing divide between the world’s rich and poor. It’s the first time the Group of 20 has taken on this issue head-on, and South Africa, leading the G20 this year, is making it a priority.

The team’s findings will be shared at the G20 Leaders’ Summit in Johannesburg this November.

The taskforce, led by Nobel Prize-winning economist Joseph Stiglitz, includes big names like Winnie Byanyima from UNAIDS and economist Jayati Ghosh. Ramaphosa didn’t mince words, saying the world’s wealth gap—made worse by things like unequal access to COVID-19 vaccines—hurts everyone.

“People see how unfairness takes away their dignity and chances to get ahead,” he said, pointing to skyrocketing food and energy costs, heavy debts, and trade disputes as reasons the gap keeps growing.

• South Africa launches G20 taskforce to tackle global wealth inequality
• Joseph Stiglitz leads G20 team on fairness, debt, and economic justice
• Ramaphosa pushes inclusive growth as South Africa leads G20 in 2025

According to the World Inequality Report, the poorest half of the world owned just 2% of global wealth in 2021, while the richest 10% held 76%. That’s a huge imbalance, and Stiglitz called it “a choice” that world leaders can change. The taskforce wants to turn people’s frustration into real solutions, especially for poorer countries struggling with economic slumps and unfair systems.

South Africa, the first African nation to lead the G20, is focusing on “Solidarity, Equality, Sustainability.” It’s pushing for the Global South—countries often left out of big decisions—to have a louder voice on issues like crushing debt and climate change. Ramaphosa said the taskforce’s work fits with the G20’s goal of creating a fairer, more inclusive economy.

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South Africa has already hosted G20 talks on things like food security and climate funding, showing it’s serious about shaping global policies. As the U.S. gears up to lead the G20 in 2026, this taskforce’s ideas could spark real change in how the world handles wealth and fairness.