2000s to 2010s · Africanspan
Six of the ten fastest growing economies are African and the poverty holds
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Sub-Saharan African economies grew by an average of 2.4 percent a year between 1980 and 2000, then by 5.7 percent across the decade that followed. Six of the ten fastest growing economies on earth were African: Angola, Nigeria, Ethiopia, Chad, Mozambique and Rwanda. The money came from Chinese, Indian, Gulf, European and North American investment, from the privatisations that structural adjustment demanded, and above all from Chinese appetite for raw materials. Growth on that scale reached very few people. Poverty stayed general, schooling stayed a privilege, healthcare stayed out of reach, and access to capital continued to depend on which family a person was born into, with women worst placed. A middle class is visible in the cities and remains a minority. The proceeds went to roughly the same sort of operators who took them in the nineteenth century, the political, military and commercial adventurers positioned to collect. Selling raw materials at good prices was the engine then as well. What happens to the proceeds is the entire question.
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