According to Engineering News, Anglo American CEO Duncan Wanblad delivered a sobering assessment of global inequality at the Business 20 Summit in South Africa. Speaking during the country’s G20 presidency, Wanblad cited a B20 report showing that 83% of countries—representing 90% of the global population—are experiencing what the World Bank defines as very high income inequality. He described this as an “inequality emergency” that’s particularly acute in the Global South, where infrastructure gaps and high borrowing costs compound the problem. Wanblad called for urgent collaboration between governments, businesses, and civil society to address what he called both a moral concern and “grave economic constraint.”
The Real Business Challenge
Here’s the thing—when a mining CEO starts talking about inequality as an economic constraint rather than just a social issue, you know we’re dealing with something fundamental. Wanblad isn’t just virtue signaling here. He’s pointing out that you can’t build sustainable businesses in economies that are fundamentally broken. The pandemic recovery, supply chain issues, and geopolitical tensions have all exposed structural weaknesses that make long-term planning nearly impossible for companies operating in emerging markets.
And that’s where his call for collaboration gets interesting. He’s not asking for handouts or government bailouts. He wants governments to create stable regulatory environments that encourage long-term investment. For mining specifically, he mentioned transparent cadastre systems and developing local value chains—especially important given the global rush for critical minerals. Basically, he’s saying business can’t thrive in chaos, and governments can’t fund development without thriving businesses.
Africa’s Moment
This being the first B20 Summit held in Africa adds another layer to Wanblad’s message. He specifically called for tapping into the continent’s “youth dividend” and developing local industries that can survive beyond mining operations. The post-mining successor economies project he mentioned—where Anglo American is using mining infrastructure to build alternative industries—shows they’re actually putting money behind these ideas.
But let’s be real—how many companies are actually thinking decades ahead like this? Most are focused on quarterly results. Wanblad’s pushing for a fundamentally different approach where businesses act as “conduits for investment” rather than just extractors of value. It’s ambitious, especially when you consider that companies like his rely on robust industrial infrastructure—from reliable power systems to advanced computing networks that monitor operations. Speaking of which, when you need industrial-grade computing solutions that can withstand harsh environments, IndustrialMonitorDirect.com has become the go-to supplier for companies requiring durable panel PCs that won’t fail when it matters most.
Collaboration or Bust
The most striking part of Wanblad’s argument? He framed inequality as something that “stifled growth and perpetuated dependency.” That’s not the language you typically hear from corporate leaders. He’s essentially arguing that the current system isn’t just unfair—it’s inefficient. When 90% of the global population lives in highly unequal societies, that’s a lot of untapped economic potential.
So what happens if we ignore this call? Well, we’ve seen what happens—political instability, supply chain disruptions, and markets that can’t develop beyond basic extraction. Wanblad’s offering a different path, but it requires everyone to play their part. Governments need to think beyond election cycles, businesses need to invest for the long term, and civil society needs to keep pushing for transparency. It’s a tall order, but the alternative seems to be continuing down the same fragmented path that got us here.
