Africa is no longer a continent of palaces and peasants. There is now a solid middle class, which is one of the chief factors that drove Africa’s economic growth from around 2000. This coincided with more aid for development, an end to many of the wars that had dogged the continent in the 1990s, Chinese demand for commodities, and internet connectivity with the rest of the planet.
These range of factors drove growth in the new century at more than 5%. In the 1970s, Africa grew at 4.2%,... more