Sat, 03 Jun 2017 12:28:37 +0000 AFRICA’s Gross Domestic Product for the last 10 years has averaged 5 percent and nearly half of the countries have more than doubled their per capita income. This is according to the African Development Bank’s (AfDB) 2015 to 2017 rolling plan and budget document. According to the report, Africa has emerged as the fastest growing region in the world despite an uncertain global environment and income growth which has contributed to a decline in poverty of 0.5 percent per year, leading to 42 percent of the population living in poverty. It reports that the continent’s challenges remain vast, adding that the levels of income inequality are high and investment in human and physical capital was insufficient to enable the private sector create jobs for the 15 million young Africans who entered the work force every year. The report disclosed that 90 percent of Africa’s jobs were informal, characterized by […]
Africa fast growing region despite poverty By MAILESI BANDA
