Can You Feel An Economic Change? Kcee, Harrisong and Inyanya in the song Feel it Africa. The biggest challenge facing Africa is poverty. However, African governments have been shy in declaring a continental war on poverty across the continent. As a result poverty is still winning. So now, most of the world's extreme poor live in Sub-Saharan Africa and to a much lesser degree in South Asia. While about 15 percent of the people live in extreme poverty in South Asia, in Sub-Saharan Africa, the figure is about 41 percent, representing about 410 million people. Unfortunately, even though the actual rate of extreme poverty has declined from over 43 percent, the actual number of people in extreme poverty has increased. So what is extreme poverty? Extreme poverty was originally defined by the United Nations in 1995 as "a condition characterized by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education and information. But Africa was said to be riding? Also change was said to be coming to Nigeria. Is Africa rising? Are we transforming into a more sophisticated society. Has change brought shared prosperity in Nigeria? Can you feel it? Can you feel a rise, transformation or change in the economy? Yes you can. Here is how you feel it in Africa. 1. Check to see if the number of people in poverty has declined. If only the rate has declined, thatâ€™s not good enough. Practical or substantive significance is far easier to see and feel than statistical significance. In many African countries, shared prosperity is missing. And even when the economy grows it doesnâ€™t quickly trickle to the masses who are typically cut off from the main stream economy. So all they feel often is the sting of poverty and deprivation, while those running the economy whether in the private or public sectors feel and reflect the shine of prosperity. The bottom line is that the poor are mostly powerless to combat poverty by themselves. Like anyone they can feel an economic change if it reaches them. But to reach them, we will have to use things like skills enhancement, technological change, infrastructure development, access to capital and reliable safety nets. Make these available and they might feel any economic change if it comes. Our hidden economics for you.
Posted: Apr 24th, 2018 @ 02:11:45 AM