INCLUDE Platform
Policy highlights:
  • Societies with a strong middle class and a narrow gap between rich and poor are more likely to experience economic growth. A strong middle class creates demand and generates employment opportunities and better education, which in turn leads to economic growth. This virtuous cycle should be supported more deliberately by both businesses and policymakers.
  • The growth of Africa’s middle class lags far behind that of the global average. According to a recent study by Credit Suisse only 3.3% of the African population can be classified as middle class. They accumulate 32.1% of Africa’s total wealth, but only 0.3% of total global wealth.
  • The poor performance of the African middle class is down to a number of severe challenges, including creditworthiness, poor infrastructure, high cost of financing, weak currencies corruption and unstable governments.

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