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One in Three Africans Have Entered Middle Class, Study Says

Vanguard   in  ·
October 27, 2014

More than one in three Africans have entered the middle class in the past decade, and their numbers are set to increase thanks to rapid economic growth, a study showed Monday.

At least 370 million Africans, or 34 percent of the continent’s 1.1 billion people, are described as members of the middle class, according to a survey by the African Development Bank.

In turn, the bulging middle class will help drive further economic growth and development, the Tunis-based AfDB said.

By 2060 the group should represent 42 percent of the population, according to the study launched in Johannesburg nearly 20 years ago.

“There is a stable middle class and it is growing,” said Mthuli Ncube, the AfDB’s chief economist and a senior research fellow with Oxford University’s Blavatnik School of Government.

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