Is the Africa Rising Narrative a Myth.

That Africa is not one country is not in doubt. There are huge differences within and without countries. To this end, it would be imperative that each of the different African countries be looked at differently. However, one of the maxims which has gone mainstream is that six of the ten fastest growing economies in the world are in Africa. This means, that Africa is the next frontier for growth in the world. This has led to the so called 'Africa rising narrative'. What then must we do so that this narrative becomes part and parcel of the global conversation.

First of all, we must acknowledge that 6 percent is such a small growth rate if Africa hopes to lift millions of its people out of poverty. According to the MCKinsey report, there are close to 200 million Africans that are in the middle class category. However, other economists posit that this
figure is too high, and if the middle class in the developed countries could be taken into account, then the percentage of middle class Africans is very minimal.

However, what's needed are concerted efforts to ensure that high growth rates of at least 10 percent are achieved. Such growth must then percolate to every African in the village. Farmers in rural areas could be helped for example, by availing low cost agricultural inputs. Business Process Outsourcing and creation of IT companies could also be a great source of growth. Currently, the high growth rates are due to minerals and the extractive industry, and this could be dangerous for African countries, especially as the prices of commodities keep on fluctuating. Countries such as Nigeria, Angola, and DR Congo could be affected by over dependence on mineral commodities, and they could do well to diversify their economies.