25, January 2021
Covid-19 pandemic makes rich much richer as poor suffer 0
Billionaires including Amazon’s Jeff Bezos and Tesla founder Elon Musk have seen their wealth soar during the Covid-19 pandemic while the world’s poor face years of hardship, charity Oxfam said on Monday as it demanded steps to tackle inequality.
Nations have a “shrinking window of opportunity” to build a fair, green recovery, according to “The Inequality Virus” report, published as global leaders tune in for the World Economic Forum’s virtual “Davos Dialogue” meeting.
“We stand to witness the greatest rise in inequality since records began,” Gabriela Bucher, executive director of Oxfam International, said in a statement as the charity called for higher wealth taxes and stronger protections for workers.
“Rigged economies are funnelling wealth to a rich elite who are riding out the pandemic in luxury, while those on the frontline of the pandemic — shop assistants, healthcare workers, and market vendors — are struggling to pay the bills.”
Covid-19 has unleashed an economic storm that hit the poor and vulnerable hardest, with women and marginalised workers facing the worst of job losses and the World Bank warning more than 100 million people could be pushed into extreme poverty.
It could take more than a decade to reduce the number of people living in poverty back to pre-crisis levels, Oxfam said.
Meanwhile, the collective wealth of the world’s billionaires rose $3.9 trillion between March and December 2020 to reach $11.95 trillion, the report calculated.
The 10 richest men — a list led by Bezos and Musk which also includes LVMH luxury group’s CEO Bernard Arnault, Microsoft’s Bill Gates and Facebook CEO Mark Zuckerberg — saw their net worth increase by $540 billion in the same period, Oxfam said.
That sum would be enough to prevent anyone from falling into poverty as a result of the pandemic and pay for a vaccine for everyone on earth, researchers calculated.
The pandemic marks a “pivotal” point which has exposed economic disparities and built support for “transformative” policies, Oxfam said, calling for higher taxes on wealth and corporations alongside stronger protections for workers.
A temporary tax on excess profits made by the 32 global corporations that have profited the most during the pandemic could have raised $104 billion in 2020, Oxfam said.
International cooperation would be key to implementing many changes, said Jayati Ghosh, an economics professor at the University of Massachusetts Amherst who was among the economists polled by Oxfam for the report.
The administration of new U.S. President Joe Biden will spur “more willingness” for joint action on issues including a crackdown on tax havens and a bailout for developing nations, she told the Thomson Reuters Foundation by phone.
“There are some very, very big hurdles, but there are many things that can be done very quickly,” she added.
Source: REUTERS



















26, January 2021
Southern Cameroons Crisis: Atanga Nji Militia’s deadly PSS Mankon attacks 0
In the early hours of Friday 22nd and Saturday 23rd January, about 21 gunmen from the Atanga Nji Militia stormed PSS Mankon boarding school. The attackers attempted to lock the dormitories and later on set it on fire.
Yaoundé has already blamed the incident on Southern Cameroons Self Defense Forces but people in the know in Bamenda are saying the attacks were carried out in an area protected by government troops.
Some 60 girls and 73 boys were rushed out of the dormitories. Our correspondent in Bamenda revealed at the time of filing this report that three female students sustained life threatening injuries.
A source at the North West governor’s office that spoke to Cameroon Concord News but sued for anonymity said elements of the Cameroon government Army Rescue were in PSS Mankon on Saturday night at the time of the action and came under attack from Ambazonia Restoration Forces.
There are conflicting reports as to which side should be held responsible for Saturday’s attacks with the pro Biya Moderator of the Presbyterian Church in Cameroon, Rt. Rev. Fonki Samuel Forba saying “the source of the fire is yet to be ascertained”.
The office of the Southern Cameroons Vice President is maintaining a kind of deliberate silence on the matter and no Ambazonia group has claimed responsibility.
In a statement the Moderator noted that “Two separate fire incidences at the campus of PSS Mankon on Friday, 22nd and Saturday 23rd January 2021 affected three dormitories and the property of some students. The students in the affected dormitories have been relocated and the Proprietor, in collaboration with the Education Secretary and the administration of the school, is doing everything possible to ensure that affected students are well catered for.”
A beaming Senior Divisional Officer for Mezam, Simon Emile Mooh has ordered the Mayor of Bamenda II to begin reconstruction of the boys ‘dormitory while the Mayor of Bafut is to focus on the girls’.
By Fon Lawrence in Bamenda