Tuesday, May 10, 2011

Africa's Middle Class

Taken from the World Bank

Taken from the BBC: "images of the Africans who don't normally make the headlines", Africa's Middle Class.

The [African Development Bank] says members of the middle classes are having fewer children, are better educated and more geographically concentrated in urban areas or along the coasts.

[...] while there were several reasons behind the growth of the middle classes, education has been the main catalyst.

Good governance has also played an important role, because it allows businesses to flourish and wealth accumulation to take place.

[Do not migrate, the] amount of money needed to leave for Europe would get you a nice little business here [in Africa].

The bank warns, however, that 60% of those defined as middle class - those spending between $2 and $4 a day - are vulnerable to economic or political shocks, and could easily fall back below the poverty line. Only about 123 million Africans - those who are spending between $4 and $20 a day - are therefore considered economically stable by the bank.
-- BBC


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