CIUsv

African lives are improvingImprovements in the quality of life are not only a keyindicator of the ultimate impact of economic growth, butalso of long-term sustainability. While there is obviouslystill a long way to go, the trends point to significantprogress not only in raising income levels, but in areas ofhealth, education and general welfare in many parts ofAfrica:• According to The World Bank, the poverty rate inAfrica has been falling by one percentage point ayear since 1995. They estimate that the proportionof Africans living beneath the poverty line will havereduced from 60% in 1995 to 38% in 2015 (despitehaving the highest population growth rates in theworld).• At the same time, based on UNESCO data, averageadult literacy rates in Africa have improved from 52%in the 1990s to almost 65% today.• Reduction in the annual rate of child mortality isaccelerating (averaging over 3% for sub-SaharanAfrica since 2000, according to UNICEF data).• An analytical study by Xavier Sala-i-Martin andMaxim Pinkovskiy backs up the view that the qualityof life in Africa is steadily improving. In their paper,African Poverty is Falling … Much Faster than YouThink! they reveal that there has been a sharpand widespread reduction in poverty and incomeinequality in Africa since 1995.GDP per capita , nominal (US$)3.2x2.7x4190379834312818 31022245 25321495 1666 1716 19534683710 597 5381980902000101213141618202224262830Source: World Bank, forecast from Oxford Economics DatabaseAfrica 2030: Realizing the possibilities17