Africa’s “middle-class” has kept pace with India’s in terms of its proportion to total population. The income band used to measure middle-class income ($2 – $20) is lower than that used to measure middle-class income in “developed” countries because it takes cognisance of purchasing power parity i.e. more can be bought for $2 in Africa and India than can be bought for the same amount in the “developed world”.
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Africa’s “middle class” has kept pace with India’sDownload brochure
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