[Courtesy]Two individuals control more wealth than what 16.5 million Kenyans own, a new report shows. The Inequality Kills report by Oxfam, a charitable organisation, found that Sameer Naushad Merali and Bhimji Depar Shah families were worth $790 million (Sh89.5 billion) and $750 million (Sh86 billion) respectively as of November 30 last year. Together, the wealth of the two individuals adds up to Sh175.5 billion, which is more than the wealth of 16.5 million Kenyans, pointing to the yawning gap between the rich and the poor. The report also shows that there were some 1,755 individuals with a net worth of $5 million (Sh566.5 million) or more as of November last year with wealth totalling $37.1 billion (Sh4.2 trillion). The report notes implementing an annual wealth of two per cent on wealth of $5 million (Sh565 million) and above and five per cent on wealth over $50 million (Sh5.6 billion) would raise an additional $900 million (Sh101.9 billion) a year.

Source: Standard Digital January 18, 2022 13:25 UTC