Opinion: Raising Africa’s middle class

Preview: We already know that we do not know enough about African growth. This was revealed by the extent of upward revisions to estimates of GDP during recent rebasings – anywhere from up 25% in the case of Kenya, to up 89% in the case of Nigeria. Africa has been growing faster than we thought all along. We were not adequately equipped to measure this growth while it was happening.

The news on Africa’s middle class has also been mixed. When a well-known multinational in the consumer goods sector, Nestle, announced that it was disappointed by the scale and growth of Africa’s middle class and the return on its investment, and that it would be cutting its regional workforce by 15%, the news dominated headlines. What went relatively unnoticed?

https://www.howwemadeitinafrica.com/opinion-raising-africas-middle-class/57312/

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