Why is there a push to tax the super-rich?

Extreme wealth inequality is a growing concern, with the richest 1% accumulating vast fortunes while billions struggle with poverty. Taxing the super-rich is seen as a way to address this imbalance adn fund essential public services.

How much wealth is held by the richest 1%?

Since 2015, the wealth of the richest 1% has increased by $33.9 trillion. This amount is enough to end annual poverty 22 times, highlighting the scale of wealth concentration.

What are the potential benefits of taxing the super-rich?

Taxing the super-rich coudl generate importent revenue for governments, which could then be invested in sustainable growth, healthcare, education, and other crucial areas. It could also help reduce inequality and promote social justice.

What are the challenges in implementing taxes on the super-rich?

Implementing taxes on the super-rich can be challenging due to factors such as tax avoidance strategies, international tax competition, and political opposition from wealthy individuals and corporations. International cooperation is essential to overcome these challenges.

What is the role of international cooperation in taxing the super-rich?

International cooperation is crucial for effectively taxing the super-rich, as it can help prevent tax evasion and avoidance through mechanisms like facts sharing and coordinated tax policies. Organizations like the UN and G20 play a key role in facilitating this cooperation.

How does taxing the super-rich relate to sustainable development goals?

Taxing the super-rich can contribute significantly to achieving the Sustainable Development Goals (SDGs) by providing the necessary resources to address poverty, improve healthcare and education, and invest in climate action. It aligns with the SDG's focus on reducing inequality and promoting inclusive growth.

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External Relations

World

Arsenal and Rwanda Partnership Ends, Focus Shifts to US and Europe

by Lucas Fernandez – World Editor November 19, 2025

written by Lucas Fernandez – World Editor

## Arsenal and Visit Rwanda to Conclude landmark ‍Partnership in 2026

After eight years of collaboration, ‍Arsenal ⁣Football Club and⁣ the Rwanda Progress Board’s Visit Rwanda campaign have jointly ⁢announced‍ the conclusion‍ of their partnership, effective ⁤June 2026. The decision,‌ revealed in‌ a statement today, signifies the end of a ⁣highly successful‍ branding initiative for the African⁤ nation.

The partnership proved a meaningful driver of Rwanda’s tourism sector. ⁢ Data ‍from the Rwanda Development Board indicates a significant increase in visitor numbers,‌ reaching 1.3 million ‍in 2024, generating⁣ USD 650‌ million in ⁣revenue. This growth is directly attributed to the increased global visibility afforded by the association with the premier League club.

Jean-Guy‌ Afrika, CEO ‌of the Rwanda Development Board, expressed gratitude for the partnership, stating, “We are grateful for these years of support and⁤ trust, and we⁤ are now focused on expanding this momentum into ‍new sports and new markets.” afrika highlighted‍ a strategic shift towards strengthening Visit Rwanda’s presence in the united States, citing partnerships with the LA ⁣Rams ‌and SoFi‍ Stadium, alongside continued development in Europe, including ⁤collaboration with Atlético de Madrid.

Arsenal also ‌recognizes‍ the partnership as a valuable asset. ‌ Richard Garlick, the club’s CEO, emphasized the collaboration’s‍ success in ⁤enhancing Rwanda’s visibility and fostering ‌connections with supporters across Africa. He ⁢also noted ⁣the positive impact‌ on‍ Arsenal’s ability to invest in its⁣ long-term sporting ⁣objectives.

The decision to conclude ⁤the partnership is not indicative of‍ any discord, but rather‍ a intentional geographical refocusing aligned with rwanda’s evolving priorities. The nation intends to leverage the successes of‍ the ‍past eight years to bolster its presence in the American ‍and Mediterranean markets, ‍supporting its broader economic, tourism, and event-driven ambitions.

November 19, 2025 0 comments

World

Title: African Development Bank Drives Financial Reform for African Growth

by Lucas Fernandez – World Editor October 29, 2025

written by Lucas Fernandez – World Editor

Mobilizing African Capital for Transformative Advancement

Africa possesses‌ a important and growing pool of domestic capital, with ‌sovereign⁢ wealth funds holding around $153 billion in assets and a broader institutional investor base exceeding $1 trillion. This significant financial foundation is increasingly‌ being leveraged for investment within the continent, driven by a growing ambition for financial autonomy.

A key initiative in this effort is the African Sovereign Investors Forum (ASIF), initially designed⁤ and championed by the African Development Bank.⁢ ASIF aims to mobilize ⁣Africa’s internal financial resources to fuel transformative development projects. In May 2022,⁤ the Bank Group formalized a strategic partnership with ASIF through a Memorandum of Understanding signed in Rabat, Morocco. This collaboration focuses on developing green and climate-resilient infrastructure across⁤ Africa, boosting financing, strengthening expertise, and fostering a sustainable future.

Currently, ASIF unites 17 African‍ sovereign wealth funds, including prominent entities like ⁢Rwanda’s agaciro Development Fund, the Djibouti‍ Sovereign Fund, gabon’s FGIS, Senegal’s FONSIS, Angola’s FSDEA,⁢ Ghana’s⁢ GIIF, Morocco’s Ithmar Capital, Nigeria’s NSIA, and the‌ Sovereign Fund of Egypt.

The African Development Bank, under the ‌leadership of Dr Ould Tah, is actively solidifying its position as Africa’s leading development finance institution⁤ through a strategy built around “Four ⁣Cardinal⁤ points.” This includes cultivating an enabling environment to facilitate the free flow of capital‍ and unlock the potential of the African Continental‍ Free Trade Area (AfCFTA).

Complementing these efforts, the ⁣Bank is strengthening its partnerships with key African guarantee institutions. Recent discussions with heads of organizations⁢ like the African Guarantee and Economic Cooperation‌ Fund (FAGACE),the African Guarantee fund Group (AGF),the African ‌Solidarity Fund (FSA),and ‌the African Trade and Investment Development Insurance (ATIDI) underscore their vital role in augmenting the continent’s financial sovereignty. Representatives from these institutions – Ngueto Tiraina Yambaye ‌(FAGACE), Felix Bikpo ‌& Jules Ngares (AGF), Abdourahmane Diallo (FSA), and Manuel Moses⁤ (ATIDI) – participated in a working session with Dr. Ould Tah.

The Bank’s support for ⁣these guarantee funds ‌is ⁣designed to ⁢improve access to finance, trade, and investment throughout africa. A ⁣second pillar of the “Four Cardinal Points” focuses on reforming and consolidating African financial ‌systems, harmonizing regulations, and strengthening collective action within the global financial landscape to ensure capital is strategically directed towards serving ‍the continent’s needs.

October 29, 2025 0 comments

World

South Africa Mourns Ambassador Nkosinathi Mthethwa’s Death

by Lucas Fernandez – World Editor September 30, 2025

written by Lucas Fernandez – World Editor

South Africa Mourns the Unexpected Death of Ambassador to France,‍ Nkosinathi Mthethwa

PRETORIA – The South⁢ African government ‌has expressed deep sorrow following the untimely passing of ‌His excellency Ambassador Nkosinathi Emmanuel mthethwa, South Africa’s Ambassador to the French Republic.The ⁤circumstances surrounding‌ his death are currently ‌under‍ investigation by ⁤French authorities.

Ambassador Mthethwa, appointed to the diplomatic post⁣ in december 2023, had a distinguished career of public service spanning decades. ⁣Prior to his ambassadorship,‍ he served ⁢in key‌ ministerial roles, including as Minister of Police and Minister of⁢ Sports, Arts and Culture. He ‍was also a member of‌ the Board of directors for the 2010 FIFA World Cup Local Organising Committee.

Throughout his career, Mthethwa remained‌ deeply⁢ involved with the African National Congress (ANC), contributing through its highest decision-making structures.Minister Lamola stated, “I have no doubt‌ that his passing is⁣ not only a national loss but is also felt within the international diplomatic‍ community.”

The Department of International Relations‌ and cooperation‌ extends its heartfelt condolences to Ambassador mthethwa’s family, friends,‌ and colleagues.He is survived by his wife⁢ and children. The government‍ has honored ⁤his legacy ⁤of⁣ unwavering patriotism and dedication to the nation.

Enquiries: Chrispin Phiri,Ministry ⁤Spokesperson

Issued by:⁢ Department ‍of International Relations and Cooperation

September 30, 2025 0 comments

Business

Casablanca Finance City Drives African Carbon Market Development

by Priya Shah – Business Editor September 24, 2025

written by Priya Shah – Business Editor

Madagascar & Morocco Forge Partnerships to⁢ Accelerate African Carbon Markets

Madagascar and Morocco⁢ are taking meaningful steps to bolster the advancement of carbon markets across Africa, driven by new collaborations ⁣focused on project acceleration, capacity building, and adherence to international standards.

Madagascar’s Ministry of the Surroundings and Sustainable Development recently signed a Memorandum of‌ Understanding (MOU) with Climate Finance ⁢Convergence (CFC) to expedite the development of⁤ carbon projects within the country, recognized as a major global “carbon well.” The partnership will specifically focus‌ on accelerating the ⁣issuance of Letters of Accreditation⁢ (LOA) to facilitate⁣ carbon credit marketing, and establishing a comprehensive capacity building‍ program to train professionals across the entire carbon value chain. Minister Max Andonirina Fontaine emphasized the MOU aligns with Madagascar’s vision for full participation ‍in carbon markets through South-South cooperation, leveraging natural solutions and ‍strengthening African partnerships.

This initiative is part of a broader ⁤movement⁣ spearheaded by the African Task Force on carbon markets, announced by Minister Benali at the African Ministerial conference on the⁣ Environment (AMCEN) 2025‍ in Nairobi. the partnerships highlight Madagascar’s commitment to climate‌ action and CFCA’s role in connecting African nations with international expertise and financing.

Meanwhile, Casablanca Finance City Authority (CFCA) is solidifying ⁣its ‍position as a leading green ‌financial center in Africa through a new partnership with the International Carbon Reduction and Offset Alliance (ICROA). This collaboration aims to establish a competitive carbon market aligned with global standards, building on CFCA’s existing work to create a ⁣voluntary carbon market infrastructure. Backed by the Caisse de Dépôt et de Gestion (CDG), CFCA is bringing together project developers, financial institutions, certifiers, and companies.

The partnership addresses the significant $2.8 trillion climate funding gap in Africa by focusing on a continent-specific governance framework, disseminating ICROA best practices, and building capacity among regulators,‌ financial institutions, ⁤and businesses. Joint research⁢ and advocacy will also be undertaken to harmonize African market rules.

“This partnership is an additional step‌ in our long-term commitment to sustainable finance,” stated Said‍ Ibrahimi, CEO of CFCA. “by‍ combining our African anchoring with‌ the international expertise of ICROA, we go from structuring to execution by creating the favorable conditions to integrate the entire value chain, direct capital towards sustainable projects and strengthen the confidence of investors.”

Andrea Abrahams, Managing Director of ‌Icroa & Ieta VCM, added, “Africa has a unique potential in terms of carbon credits, but market credibility requires integrity and harmonization of supervision frames. With CFCA, we found a reliable ⁣partner to build the foundations of a robust African market ‌and aligned⁢ on international standards together.”

September 24, 2025 0 comments

Entertainment

Free Bus Monaco: Events & Government Mobility Plan

by Julia Evans – Entertainment Editor September 13, 2025

written by Julia Evans – Entertainment Editor

Monaco to Offer Free Bus Service During Major Events, Easing Congestion & Enhancing Visitor Experience

MONACO – In a move designed to streamline transportation during peak event periods, the Princely Government will provide complimentary access to the Monaco bus network (CAM) for all users attending major events in the Principality.‌ The initiative, born from discussions with the National Council, aims⁤ to alleviate ‌traffic congestion and‌ improve the overall experience for residents and visitors alike.

This policy addresses a recurring challenge: the notable influx of people ⁢during events like the Monaco Yacht Show, Rolex Monte-Carlo Masters, Formula 1 Grand Prix, and others, which often strains the Principality’s roadways.By removing the cost barrier⁣ to public transportation, the government hopes ⁢to encourage wider ⁢adoption of the CAM network, ‌a system already recognized for its density and efficiency, particularly when reinforced to handle increased demand. The move underscores Monaco’s⁢ commitment to enduring mobility and enhancing quality of life.

The free bus service will first be implemented during⁢ the Monaco yacht Show 2025, running from September‍ 19th to October 1st, encompassing the event itself and also setup and dismantling phases. It will then be extended to ⁢cover Luxe ⁢pack‍ Monaco and⁤ later rolled out for other large-scale ‌events including the rolex Monte-Carlo Masters, the Monaco Grand Prix, the Monaco⁤ E-Prix, and the Vuelta.

The government emphasizes that the CAM will announce specific dates and logistical details for each event as they approach. This initiative reflects a broader⁤ governmental strategy to prioritize accessible and simplified collective ⁢transportation options, ensuring a smoother⁤ experience for all during Monaco’s internationally renowned gatherings.

September 13, 2025 0 comments

World

South Africa Joins Coalition to Tax Billionaires – Oxfam Responds

by Lucas Fernandez – World Editor July 2, 2025

written by Lucas Fernandez – World Editor

Global Coalition Aims to Tax the Super-Rich: A New Era for Wealth Redistribution?

Table of Contents

Global Coalition Aims to Tax the Super-Rich: A New Era for Wealth Redistribution?

In a move that could reshape global finance, Spain, Brazil, and South Africa have launched a coalition to advocate for taxes on the super-rich. The proclamation, made at the Fourth Financing for Development Conference in Seville, signals a growing international effort to address wealth inequality and fund sustainable development initiatives.

The Push for Global Tax Reform

The coalition’s formation comes amid increasing scrutiny of extreme wealth disparities. According to Oxfam, the wealth of the richest 1% has surged by $33.9 trillion as 2015, a sum sufficient to eradicate annual poverty 22 times over . Despite this immense accumulation, billionaires effectively pay a mere 0.3% in real taxes.

Did You Know? The global tax gap, representing the difference between taxes owed and taxes collected, is estimated to be over $427 billion annually, largely due to tax evasion by multinational corporations and wealthy individuals.

Driving Forces Behind the Initiative

Susana Ruiz, Oxfam Tax Justice Policy Lead, lauded the leadership of Brazil, spain, and South Africa, emphasizing the growing global demand for countries to resist the “corrupting political influence of oligarchies.” Ruiz argues that taxing the super-rich is crucial for achieving sustainable development and combating inequality.

The current financial system, critics argue, disproportionately benefits a select few, hindering progress towards the Sustainable Development Goals (SDGs) and trapping over three billion people in poverty. Many impoverished nations allocate more resources to debt repayment than to essential services like healthcare and education.

Key Opportunities for International Cooperation

The coalition aims to leverage upcoming international events to advance its agenda. the Financing for Development Conference in Seville, COP30 in Brazil, and the G20 summit in South Africa are identified as pivotal opportunities for fostering international cooperation on taxing the super-rich and investing in a more equitable and sustainable future.

Pro Tip: Stay informed about international tax policies and advocacy efforts by following organizations like Oxfam, the Tax Justice Network, and the International Monetary Fund.

Potential Impact and Challenges

The success of this initiative hinges on broader international participation. Overcoming challenges such as tax avoidance strategies and political resistance from wealthy elites will require concerted global action. However, if triumphant, increased tax revenue from the super-rich could provide ample resources for addressing pressing global issues.

Metric	Value
Wealth Increase of Richest 1% (since 2015)	$33.9 Trillion
Taxes Paid by Billionaires (Effective Rate)	0.3%
People Living in Poverty	Over 3 Billion

Evergreen Insights: The Past Context of Wealth Taxation

The concept of taxing the wealthy to fund public services and reduce inequality has a long history,dating back to ancient civilizations. In modern times, progressive income taxes and wealth taxes have been implemented in various countries with varying degrees of success. The debate over the optimal level and form of wealth taxation continues, with proponents arguing for its potential to address inequality and fund essential services, while opponents raise concerns about economic disincentives and administrative challenges.

The current push for global tax reform reflects a growing recognition that wealth inequality is not only a moral issue but also a significant obstacle to sustainable development and economic stability. As international cooperation becomes increasingly crucial in addressing global challenges, the taxation of the super-rich is likely to remain a prominent topic on the global agenda.

frequently Asked Questions About Taxing the Super-Rich

Why is there a push to tax the super-rich?: Extreme wealth inequality is a growing concern, with the richest 1% accumulating vast fortunes while billions struggle with poverty. taxing the super-rich is seen as a way to address this imbalance and fund essential public services.
Which countries are leading the effort to tax the super-rich?: Spain, Brazil, and South Africa have formed a coalition to advocate for global taxation of the super-rich, aiming to foster international cooperation on this issue.
How much wealth is held by the richest 1%?: Since 2015, the wealth of the richest 1% has increased by $33.9 trillion. This amount is enough to end annual poverty 22 times, highlighting the scale of wealth concentration.
What are the potential benefits of taxing the super-rich?: Taxing the super-rich could generate significant revenue for governments,which could then be invested in sustainable development,healthcare,education,and other crucial areas. It could also help reduce inequality and promote social justice.
what are the challenges in implementing taxes on the super-rich?: Implementing taxes on the super-rich can be challenging due to factors such as tax avoidance strategies, international tax competition, and political opposition from wealthy individuals and corporations. International cooperation is essential to overcome these challenges.

Will more countries join this coalition? How can global citizens support efforts to promote fair taxation?

Share your thoughts and join the conversation below!

July 2, 2025 0 comments