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12 hours ago · In June 2023, the World Bank established a new threshold for prosperity at $25 a day, or $9,125 annually. Currently, around 2.4 billion people, nearly a third of the global population, live at or above this level. This figure is increasing rapidly as approximately 85 million people cross this threshold annually.
12 hours ago · Despite the global challenges that tested economies worldwide, the African continent is projected to remain resilient. Real GDP growth is projected to rise to 3.7 percent in 2024 and 4.3 percent in 2025, exceeding the 4.1 percent in 2022, as most of the effects of the above factors weighing on growth in 2023 fade away (figure 1 and annex 1.1A).
12 hours ago · More alarming is the high youth unemployment—job seekers between 15 and 24 years old—at almost 60 percent in the fourth quarter of 2023. The high overall level of unemployment in South Africa—over 32 percent—must be addressed to achieve economic growth and prosperity. There has been a notable change in gender dynamics in recent times.
12 hours ago · Where wealth is concentrated in Africa. 56 percent of Africa’s millionaires and over 90 percent of its billionaires lived in just five countries in 2023 - South Africa, Egypt, Nigeria, Kenya and Morocco, according to The Africa Wealth Report 2024 published by Henley & Partners and New World Wealth. There were 135,200 people who owned wealth ...
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12 hours ago · With its rapidly growing population, Africa is poised to double by 2050, reaching over two billion people. This surge in population will be met by the demand for cost-efficient and reliable energy, a crucial factor in powering the continent’s socioeconomic development.
12 hours ago · India is the most populous country in the world with one-sixth of the world's population. According to estimates from the United Nations (UN), India has overtaken China as the country with the largest population in the world, with a population of 1,425,775,850 at the end of April 2023.
12 hours ago · The African Development Bank Group unveiled its new Ten-Year Strategy 2024–2033 today, a blueprint to confront Africa’s pressing challenges and to help put the continent firmly back on track towards sustained economic growth and prosperity. Unveiling the strategy during the Bank Group’s Annual Meetings in Nairobi, Kenya, African Development Bank Group President Akinwumi Adesina said, […]
