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Tuesday, 6th December 2011
Africa's New Engine
Source: International Monetary Fund
From the article (HTML):
One of the noticeable things across Africa these days is how many people have cell phones—71 percent of adults in Nigeria, for example, 62 percent in Botswana, and more than half the population in Ghana and Kenya, according to a 2011 Gallup poll. ...
Seeing the cell phone success, banking and retail firms are eyeing expansion in Africa to target a growing middle class of consumers. According to the African Development Bank (AfDB), one of the results of strong economic growth in recent years has been a significant increase in the size of the African middle class. The middle class will continue to grow, from 355 million (34 percent of sub-Saharan Africa’s population) in 2010 to 1.1 billion (42 percent) in 2060, the bank says. And this middle class is the key to Africa’s future prosperity.
Finance & Development, December 2011, Vol. 48, No. 4
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By Peggy Garvin

Peggy Garvin, of Garvin Information Consulting, is the author of United States Government Internet Directory (Bernan Press) and Real World Research Skills, 2009 (TheCapitol.Net). In her 20 years in the information business, Peggy has managed electronic information products and services in a variety of environments, including commercial publishing, e-commerce, law firms, and the Congressional Research Service of the Library of Congress. Peggy's work has been recognized with the 2011 SLA Dow Jones Leadership Award. She has a Masters of Library Science degree from Syracuse University School of Information Studies.
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