Africa’s middle class is characterized by a per capita daily consumption of $2 to $20, according to the African Development Bank. The middle class is growing at a faster rate than that of its population. In a report titled The Middle of the Pyramid, the African Development Bank states that by 2010, the continent’s middle class had risen to an estimated 34 percent of its population, or nearly 350 million people, up from about 126 million, or 27 percent, in 1980, representing a growth rate of 3.1 percent, compared with 2.6 percent in the continent’s overall population over the same period.
