Africa’s middle class is dramatically smaller than we think October 30, 2015
Posted by OromianEconomist in Uncategorized.Tags: #Africa: Why we are getting poorer when the official figures say we are getting richer, Africa is not rising, Africa's middle class
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It is puzzling that Africa’s middle class remains small when wealth on the continent has grown quickly, more than doubling over the past 15 years to some $1.63 trillion. One reason is that Africa’s growth has not been distributed evenly—the continent’s richest, 0.2% of the population, control over 30% of the region’s wealth.
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