Africa Inequality Study

Inequality Study Working Paper Series

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Africa Inequality Study

July 3, 2024

Africa’s poverty challenge is well-known and widely researched. Approximately a third of the world’s poor live in Africa. More recently, evidence shows that inequality may indeed be a more significant challenge in Africa than in other regions of the developing world. High levels of poverty and inequality persist in Africa despite it being one of the fastest-growing regions in the last decade. In particular, six of the world’s ten fastest-growing economies during 2001-2010 were in sub-Saharan Africa (SSA) (The Economist and IMF, 2011). Specifically, the fastest-growing economy in the world in this decade was Angola, followed by Nigeria, Ethiopia, Chad, Mozambique, Rwanda and Equatorial Guinea.