Zimbabwe among the top countries with the widest gap between the rich and poor

Zimbabwe is among the top 30 countries in the world with the widest gap between its richest people and the poorest, according to a survey by InsiderMonkey.

To determine the countries with the widest gap between rich and poor, InsiderMonkey gathered the average income share of the top 10% and bottom 50% population of countries from the World Inequality Database, as of 2022. 

Seventeen of the 30 countries are from Africa and nine of them are in the Southern African Development Community. Six of the SADC countries are in the top 10.

Zimbabwe is ranked 11 after Seychelles (30) and Angola (12). Botswana is at number 10, followed by Eswatini at 9, South Africa (8), Zambia (5), Mozambique (4) and Namibia (3).

In the Seychelles the top 10% accounted for 52.10% and the bottom 50% for 12.1%. In Angola the bottom 50% accounted for 9% and the top 10% for 58%. The top 10% in Zimbabwe accounted for 59% and the bottom 50% for 9.2%.

Figures for the other sadc countries were Botswana 59.3% and 8.1%; Eswatini,59.9% and 7.9%; South Africa, 65.4% and 13.3%; Zambia,61.7% and 7%; Mozambique, 64.4% and 8.3%; and Namibia,64.2% and 6.6%.

According to InsiderMonkey, excessive inequality can impact social unity, lead to political polarisation, and lower economic growth. Excessive equality can also lead to limited investments and growth opportunities. 

“This means balance is the key and for economies to flourish there must be a balance in wealth or income equality,” it says.

Zimbabwe is aiming to become an upper middle income country by 2030 and President Emmerson Mnangagwa’s mantra is “ensuring that no one and no place is left behind” but it looks like he is leaving half the population behind.

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