Is there a middle class in the Sub-Sahara?

-


I was recently watching the news on one of our local television. There was a comment about middle class in African nations. The commentator said that there is a rising middle class in the sub-region because of the increase of incomes. As junior economist my attention was drawn on the issue of middle class in the sub region.

What is a middle class in economics?  Do we have a middle class in the sub-region?

 The middle class is the broad group of people in contemporary society who fall socio-economically between the working class and upper class. 

In the western countries the middle class represent a significant part of the population constitute a driving force for economic growth. Credit Suisse's Global Wealth Report 2014, estimated that people who belong to the middle class, have wealth between the range of $10,000-$100,000.

 There is a very low rate of people who belong to the middle class in the sub-region. What we have is should be called a center, a concentration of wealth in the hands of few in most of the sub-Sahara countries. And there is the peripheral which represent more than 80% of the people who hold less than 5% of national wealth.
 
The policymakers should endeavor to make the middle class a reality in the sub-region. A middle class can be a drive to sustainable development economy. With an increased purchasing power it leads the consumption to its highest level. Then enterprises would strive to meet the demand. Production will increase and it means jobs and wealth for nationals.

At this point, it is obvious that wealth allocation remains and it is a real issue in the sub-Sahara. In the coming articles we shall talk about wealth issues in the sub-region.
 


Comments

Post a Comment

Popular posts from this blog

96 outils d'IA pour vous aider à créer un contenu en 2024

-
  Exploitez cette mine d’or pour augmenter votre niveau de créativité 🔥🔥🔥 👉 Recherche - Execo - Silatus - Bing chat - Perplexity - ChatGpt-4 👉 Génération d’image - Dall-E 3 - Leap AI - Bing AI - Segmind - Midjourney - Stable Diffusion 👉 CopyWriting - Rytr - Copy AI - Writesonic - Adcreative AI 👉 Writing - Jasper - HIX AI - Jenny AI - Textblaze 👉 Site Web - 10Web - Durable - Style AI - Landingsite 👉 Génération de video - Klap - Opus - Eightify - InVideo - HeyGen - Short Deo - ImgCreator AI - Morphstudio 👉 Meeting - Tldv - Otter - Noty AI - Fellow app 👉 SEO - Seona AI - TubeBuddy - Semrush com - BlogSEOkeywords 👉 Chatbot - Dante Ai - Trycortex - Chatsimple 👉 Presentation - Tome app - Decktopus - Gamma AI - Designs AI 👉 Automatisation - Make - Zapier - Xembly - Bardeen 👉 Prompts - FlowGPT - Alicent AI - PromptBox - Promptbase - Snack Prompt 👉 UI/UX - Figma - Uizard - UiMagic - Photoshop 👉 Design - Canva - Flair AI - designify - Clipdrop - Autodraw - Magician de...
Read more

How to Leverage Women Entrepreneurship in Africa

-
Image
Africa is a continent with immense potential for economic growth and social development. One of the key drivers of this potential is women entrepreneurship, which has been recognized as a catalyst for innovation, job creation, and poverty reduction. However, women entrepreneurs in Africa face many challenges, such as lack of access to finance, markets, skills, and networks, as well as social and cultural barriers that limit their opportunities and aspirations. How can we leverage women entrepreneurship in Africa to unleash its full potential and benefit the continent and the world? In this short post, we will explore some of the strategies and initiatives that can support and empower women entrepreneurs in Africa, such as: - Providing access to finance : Women entrepreneurs often struggle to obtain loans, grants, or investments for their businesses, due to factors such as lack of collateral, credit history, or formal business registration. To address this gap, we need to create more fi...
Read more

Agriculture: A business response to economic growth in the sub-Sahara. Part 1

-
Image
Some of the major issues that the Africa sub-Saharan is expected to face is in the years  ahead are food issue, the population growth, exponential increase in the unemployment  rate etc.... All are inextricably linked. One is the cause of another and so on.  Some 795 million people  in the world and especially in the Sub-Sahara do not have enough food to lead a healthy active life. That's about one in nine people on earth.   Sub-Saharan Africa is the region with the highest  prevalence  (percentage of population) of hunger. One person in four there is undernourished. ( Source World Food Program) There is the paradox: Africa continent has  is huge surface favorable for agriculture and a good weather, but only a few percentage is used for agriculture and most a huge amount of food crops is for export, while most of its people die every day of hunger especially in the corn and in the sub-sahara. Who is to blame for...
Read more