Middle Class

Middle Class Africa | FP Passport.

A new report released by the African Development bank today estimates that more than a third of the continent’s population — 313 million people — are now middle class. Wake up investors: “Africa’s emerging middle class comprises roughly the size of the middle class in India or China.”

Although many of the people there are just now entering the Middle Class, the trend toward fewer children and better education will undoubtedly move more people up economically.

And it’s not just the economy that benefits:

Having a middle class can be a massive boom to political growth as well. It may be no coincidence that two of the countries with the largest percentage of middle class citizens — Tunisia (89.5 percent) and Egypt (79.7 percent) — got fed up with their corrupt, incompetent regimes. The young generation of African businessmen, thinkers, and leaders won’t put up with business as usual; they have too much work to get done.

A good thing, if it works out as planned.

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