President Jacob Zuma joined a group of 11 other heads of state to support the so-called "Robin Hood Tax," which would use a financial transactions tax (FTT) to fund anti-poverty projects. President Jacob Zuma
French President Nicolas Sarkozy made the announcement on Friday afternoon at the G20 Summit in Cannes. Other supporters include Germany, Spain, the African Union, the United Nations and billionaire Bill Gates.
Black Sash spokeswoman Phelisa Nkomo said she was pleased with Zuma's endorsement.
"This support must now be demonstrated by political commitment. Every day until the FTT is implemented is another day that women, youth and children continue to struggle with poverty and unemployment," Phelisa Nkomo from Black Sash & GCAP, SA.
Alex Kent from the Robin Hood Tax Campaign said he hoped the FTT would mend damage done by "casino capitalism".