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Equatorial Guinea has enjoyed some of the highest growth rates in the world (37% a year on average in the past 10 years), based largely on its oil sector. With an economy 20 times bigger than it was in the mid-90s, the government can now afford to start expanding its social programs, especially as tremendous inequality means that despite a $14,941 average GDP per capita ($30,000 according to ...
Africa Social Impact Summit (ASIS) is an African non-governmental initiative launched in 2022 in Lagos, Nigeria. [1] ASIS is co-convened by the United Nations in Nigeria and Sterling One Foundation alongside other private sector and development organizations. It is a convening for inclusive development that provides an opportunity for ...
There are a number of reasons for Africa's poor economy: historically, even though Africa had a number of empires trading with many parts of the world, many people lived in rural societies; in addition, European colonization and the later Cold War created political, economic and social instability. [25]
They try to explain Africa's economic development as subject to European institutional decisions of the past. European colonial governments had no incentive to create institutions fostering economic development in African colonies, but rather economic extraction of given resources.
Africapitalism is the economic philosophy that the African private sector has the power to transform the continent through long-term investments, creating both economic prosperity and social wealth.
In South Africa, this idea is known as the first (capitalist, high-profit industries) and second (underdeveloped) economies. [6] The first economy contributes to the majority of South Africa's wealth and is integrated within the world economy. The second economy consists of low-skilled and outdated jobs.
Social welfare programmes have a long history in South Africa. [3] The earliest form of social welfare programme in South Africa is the poor relief distributed by the Dutch East India Company and the Dutch Reformed Church (DRC) in 1657. [4] The institutionalised social welfare system was established after the British occupied the Cape Colony in ...
A level of social mobility does exist among blacks who are able to attend schools in white areas, [2] but with 76% of the total population being black combined with massive regional grouping of blacks, white schools are few and far between, and inaccessible to the poor. Perspectives on South African social mobility can vary.