World's 22 Richest Men Wealthier Than All Women In Africa - Report

Women doing most of unpaid care work are the "hidden engine" of the global economy, yet all women in Africa own less wealth than the world's 22 richest men, a report out Monday estimated

MOSCOW (UrduPoint News / Sputnik - 20th January, 2020) Women doing most of unpaid care work are the "hidden engine" of the global economy, yet all women in Africa own less wealth than the world's 22 richest men, a report out Monday estimated.

The study by the Oxfam anti-poverty advocacy group was published ahead of this week's Davos forum to emphasize the need to lift disproportionate care responsibility from women to empower them.

"Globally, men own 50% more wealth than women, and the combined wealth of the world's 22 richest men is more than the wealth of all the women in Africa," it read.

The 63-page "Time to Care" study found that women did more than three-quarters of cooking, cleaning and looking after children and the elderly for free.

Oxfam estimated women's input at $12.5 billion a day, at least $10.8 trillion a year, more than three times the size of the global technology industry.

Oxfam India CEO Amitabh Behar, who is representing the group in Davos, called unpaid care work the "hidden engine" that keeps the wheels of economies moving.

"It [care work] is driven by women who often have little time to get an education, earn a decent living or have a say in how our societies are run, and who are therefore trapped at the bottom of the economy," he said.

The watchdog urged governments to pass legation on the fair taxation of the rich and invest more in childcare, healthcare water and sanitation to free up women's time and improve their quality of life.