Africa Rising

A market in Nigeria; Africa Rising is particularly associated with the growth of local entrepreneurship

Africa Rising is a term coined to describe the rapid economic growth in sub-Saharan Africa since 2000 and the belief in the inevitability of further, rapid development on the continent. According to The Financial Times, Africa Rising is a "narrative that improved governance means the continent is almost predestined to enjoy a long period of mid-to-high single-digit economic growth, rising incomes and an emerging middle class."[1] It has been particularly associated with the democratisation of African states since the end of the Cold War, comparative peace, greater availability of mobile phones and the Internet, and increase in African consumer spending as well as a growth in entrepreneurship.[2] In the decade between 2005 and 2015, the economy of Africa as a whole increased by 50 per cent in contrast with a world average of 23 per cent.[3]

The term is widely used (including by the BBC)[4] and was the title of a 2014 conference held in Mozambique by the International Monetary Fund.[5] Both The Economist and Time have devoted front-pages to the Africa Rising narrative.[6] The term has been criticised by some as being a "stereotype" of Africa as a continent "brimming with mobile phones and energetic businesses".[6] Critics have also argued that the narrative has been undermined by experience of the West African Ebola virus epidemic (2013–16)[7] and the growth of conflict in some parts of the continent.[3] Some have also claimed that the 18 million Africans considered "middle class" are too small a proportion (3.3 percent) of the overall population to justify claims of rapid social change brought about by Africa Rising.[3]

The term has also spawned a number of spin-off ideas, such as "Latin America Rising"[8] and "Asia Rising".[9]

See also

References

  1. ↑ Johnson, Steve (27 October 2015). "Slowdown calls 'Africa rising' narrative into question". The Financial Times. Retrieved 20 February 2016.
  2. ↑ Wadongo, Evans (7 November 2014). "Africa rising? Let's be Afro-realistic". The Guardian. Retrieved 20 February 2016.
  3. 1 2 3 Fabricius, Peter (11 November 2015). "Africa Rising or Africa Uprising?". Mail & Guardian. Retrieved 20 February 2016.
  4. ↑ Akwagyiram, Alexis (18 June 2013). "Africa rising - but who benefits?". BBC. Retrieved 20 February 2016.
  5. ↑ "Africa Rising: Building to the Future". Africa-rising.org. International Monetary Fund. Retrieved 20 February 2016.
  6. 1 2 Franks, Suzanne. "Stereotyping Africa: from impoverishment to 'Africa Rising'". city.ac.uk. City of London University. Retrieved 20 February 2016.
  7. ↑ Machirori, Fungai (26 August 2014). "How Ebola is challenging the 'Africa rising' narrative". The Guardian. Retrieved 20 February 2016.
  8. ↑ "Latin America Rising". Yes! Magazine. Retrieved 20 February 2016.
  9. ↑ "Report: Asia Rising". The Economist. Retrieved 20 February 2016.

Further reading

  • Mahajan, Vijay (2009). Africa rising: How 900 million African consumers offer more than you think (4th ed.). Upper Saddle River: Wharton School Pub. ISBN 978-0132339421.
  • Taylor, Ian (2014). Africa Rising? BRICS - Diversifying Dependency. Oxford: James Currey. ISBN 9781847010964.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.