Covid-19 widens the gap between rich and poor

What you need to know:

  • The 1,000 richest people in the world recovered their Covid-19 losses within just nine months, but it could take more than a decade for the world’s poorest to pull through the economic impacts of the pandemic.
  • Nine out of the 11 Sub-Saharan Africa dollar billionaires have seen their fortunes increase by about US$13.1 (Sh1.44 trillion) since March 2020, enough to give all 20 million people forced into poverty by Covid-19 in the region a cheque of about US$655 (Sh72,050) each.
  • Last year, the main bread winner in one in six Kenyan households lost their source of income due to the coronavirus pandemic.

Rigged economic systems are enabling the super-rich to amass wealth in almost every country at once while billions of people are struggling to make ends meet.

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