Inequalities Undermine Africa’s
Impressive Economic Growth
Growth means nothing if it does not reduce poverty
Twelve years ago, the influential Economist magazine described Africa as “the hopeless continent”. Last year the same publication ran the headline: “Africa rising: the hopeful continent”, noting that some of the fastest-growing economies in the world are in Africa.
According to the 2012 Africa Progress Report, seven in every 10 people on the continent live in countries that have enjoyed an economic boom – growth rates averaging in excess of four percent for the past decade. From 2005 to 2009, Ethiopia recorded higher growth than China, and Uganda outperformed India.