Africa’s Middle Class Is at the Crossroads


The World Economic Forum’s annual Africa meeting is starting today in Abuja, Nigeria. The story here was supposed to be an optimistic one–last week, the World Bank upgraded the country’s GDP numbers by 89 %, making it the number one largest economy in Africa. Yet the fact that there are still 233 missing girls that have been abducted from their homes in the northeast of the country by the Islamic radical group known as Boko Haram is casting a large shadow on that story. Standard & Poor’s rating agency recently downgraded the country’s credit based on rising terrorism (a car bomb last week outside Abuja, the second in recent weeks, killed 19 people), and corruption (the central bank head was put on suspension a few weeks ago after $20 billion was found unaccounted for in the Treasury).

On the shuttle buses and in the halls of the WEF meetings here…

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