One In 3 Africans Now Middle Class, Report Finds
Friday, May 6, 2011
One in three Africans is middle class, a rising group of consumers to rival those of China and India, researchers have found (pdf).
Record numbers of people in Africa own houses and cars, use mobile phones and the internet and send their children to private schools and foreign universities, according to the African Development Bank.
Mthuli Ncube, the bank’s chief economist, said the findings should challenge long-held perceptions of Africa as a continent of famine, poverty and hopelessness.
“Hey you know what, the world please wake up, this is a phenomenon in Africa that we’ve not spent a lot of time thinking about,” Ncube said. “There is a middle class that is driven by specific factors such as education and we should change our view and work with this group to create a new Africa and make sure Africa realises its full potential.”