Sunday, May 15, 2011

A middle class Africa

A growing middle class is a sign of strong economic progress in a country. This middle class helps create more jobs, increased government revenues, better public services, and eventually will help the lower class escape poverty. This scenario has begun to slowly reflect the African economy. Ten years ago a mere 25% of the African population were living on more than $2 per day, today that number is approximately 33% of the population, this is considered the "middle class". Unfortunately, there is still great disparity in Africa as only one-fifth of the poorest areas earn between $2 and $4 dollars per day. Also, many of these middle class citizens are still living nearly a century behind the western world. Many can afford a telephone, washing-machine, or television, but very few have all three. Looking forward it is good to see the progress of Africa with advancements in technology helping lift many people out of dire poverty. We can only hope that this trend continues.

-Tommy Walker

No comments: