{UAH} Why Africa's economic growth is not translated into poverty reduction

The annual Africa Progress Panel (APP) report was published in May 2014. It presented two faces of Africa: rapid economic growth and increasing poverty.

"Despite Africa's spectacular growth and its enormous potential, why is poverty actually increasing?  'The answer is that inequality is weakening the link between economic growth and improvement in wellbeing', [Kofi] Anan says"

"But that is not the only cause. Natural resource plunder, including Africa's fisheries and timber, combined with international financial chicanery, which Anan describes as 'organized theft disguised as commerce', is robbing the continent of billions of dollars every year. African leaders have not helped in this matter. 'African political leaders have failed to manage natural resources in the interest of the true owners of those resources – the African people', Anan says" (African Business June 2014).  

Eric

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