Although Africa’s economy is booming by many measures, growth is largely failing to reach the continent's poorest people.
According to the World Bank, overall economic growth in Africa is encouraging, measuring close to 5 percent on average per year, but the equality gap in Africa is narrowing slower than elsewhere in the developing world.
Africa grew faster in the last decade than most other regions, but the impact on poverty is much less than we would have liked. Africa’s growth has not been as powerful in reducing poverty as it could have been because of the high levels of inequality.
- Francisco Ferreira, Acting Chief Economist, World Bank, Africa Region, via Emerging Markets