Africa’s Middle Class Growing Steadily

Africa's middle class has tripled over the last 30 years, with fully one in three now considered above the poverty line but not among the wealthy, according to the African Development Bank

The African Development Bank says that Africa's middle class has tripled over the last 30 years, with fully one in three now considered above the poverty line but not among the wealthy.

In its latest report, the bank says that in 2010, 34.3 percent of the African population, or 313 million people, were classified as middle class, compared with 26.2 percent or 111 million people in 1980.

It argues that, "Solid economic growth in Africa over the past two decades has contributed to reducing poverty in Africa and increasing the size of the middle class."

To read the article titled, “Africa's middle class growing steadily, says bank,” click here.

Source: 
Mail & Guardian

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