South Africa has appointed a panel of distinguished economists to address the pressing issue of global wealth inequality as part of its G20 Presidency. The initiative aims to provide comprehensive solutions to counteract the widening wealth gap exacerbated by recent economic shocks.

In a historic initiative, South Africa’s presidency of the Group of Twenty (G20) developed and developing nations has launched a comprehensive project to tackle global wealth inequality, with a report set to be presented to G20 Leaders. 

President Cyril Ramaphosa announced the formation of an Extraordinary Committee comprising six renowned economic experts, including Nobel Laureate Professor Joseph E. Stiglitz. 

The committee's formation comes amid growing concerns about the alarming increase in global wealth disparity, particularly worsened by shocks to international trade, financing, and the COVID-19 pandemic. Stiglitz pointed out that the wealthiest 1% have accrued wealth exceeding $33.9 trillion, a sum sufficient enough to eliminate global poverty 22 times over, highlighting the urgent need for actionable solutions. 

During the announcement, Ramaphosa emphasized the detrimental impacts of extreme inequality, which undermines social cohesion and economic progress. He noted that the current trajectory of wealth accumulation by a small elite poses systemic risks to the global economic and social order. 

The panel, which includes economists from Brazil, Uganda, India, and South Africa, aims to assess the current state of wealth and income inequality and provide policymakers with effective solutions. The urgency of their work is underscored by their commitment to presenting evidence-based policy proposals capable of addressing the challenges posed by escalating inequality. 

The six independent experts are: 
- Professor Joseph Stiglitz (USA): Nobel Laureate in Economics; university professor at Columbia University and chief economist of the Roosevelt Institute.
- Dr Adriana E. Abdenur (Brazil): Brazilian social scientist, former Special Advisor in International Affairs in the office of President Lula of Brazil; co-founder of the Brazilian think tank, Plataforma CIPÓ, and current co-President of the Global Fund for a New Economy (GFNE).
- Ms Winnie Byanyima (Uganda): Executive Director of UNAIDS and an Under-Secretary General of the United Nations; Convenor of the Global Council on Inequality, AIDS and Pandemics, and co-founder and co-chair of the People’s Medicines Alliance.
- Professor Jayati Ghosh (India): Professor at the University of Massachusetts at Amherst, and Co-Chair: International Commission for the Reform of International Corporate Taxation.
- Professor Imraan Valodia (South Africa): Professor of Economics; Pro Vice-Chancellor: Climate, Sustainability and Inequality, and Director of the Southern Centre for Inequality Studies, University of the Witwatersrand.
- Dr Wanga Zembe-Mkabile (South Africa): Senior Specialist Scientist in the Health Systems Research Unit of the South African Medical Research Council, and an Extraordinary Professor at the UWC School of Public Health.

As global leaders prepare for the G20 summit,  the South African government hopes that the focus on inequality, historically sidelined, will take center stage, thanks to its initiative in launching the taskforce and its advocacy for a more equitable global economic framework.

Multiple sessions and meetings are planned at various levels between September and November under South Africa's presidency, with the leaders' summit taking place on 22 and 23 November 2025.

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