Africa’s Little Known Great Depression: Bad Regimes in Song as the African Middle Class Collapses

Africa's middle class has suffered a rapid decline since the days of the Arab Spring, from 313 million down to only 18 according to some estimates. This for Africa is comparable to the Great Depression of the 1920's... The collapse of the African middle class, besides its obvious economic implications may come as a bonus for African leaders who want to extend their rule indefinitely. The opposition in these countries is in disarray, and some of their numbers are easy prey to those with the money bags who are working to disintegrate any credible opposition to the regimes. Both the middle class and the wider population are hostage to the situation and Africa's prospects in the coming decades don't look too good...Read more