Saturday, June 04, 2016

Africa - no progress

Over the last decade, many African economies have posted world-beating growth rates mainly on the back of a commodity-led boom, but a new report shows that the Africa rising narrative did little to improve the prosperity of people living on the continent.

The report by London-based think-tank Legatum Institute ranks African countries according to both wealth and wellbeing, which it calls “prosperity”. It defines prosperity according to a combination of 89 variables spanning eight categories, from entrepreneurship to health and education. Overall the Legatum index showed that Africans are less healthy, less educated and less able to participate in economic activity despite the recent increase in gross domestic product in their economies, Financial Times reported. 

“The African continent has made no relative progress on prosperity,” the report says, contrasting its performance with east Asia. Africa has done far less well than east Asia at reducing poverty. 

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