The criteria used is the country’s GDP per capita and the Purchasing Power Parity (PPP). I am pretty sure your perception about Africa as probably poor will change after reading this piece
Leading fund managers discussed their unique approaches in deal sourcing, portfolio management, and exiting investments in Africa at the Harvard Africa Business Conference 2017.
US-based cloud services provider Akamai has ranked Kenya as the first country in African region with an average connection speed above 10 Mbps that has posted a strong quarterly gain of 43 percent.
Nigerians like to use humor to make sense of frequent power outages. They turned the formerly National Electric Power Authority (NEPA), the parastatal that ran the nation’s grid, to “Never Expect Power Always.”
Africa gives to the West more than what it receives in foreign aid. Africans have aided and abetted the looting of Africa's wealth and resources through organized schemes between African leaders and western companies.
“We see the longer term impacts as a continuation of the relative decline of European powers’ influence on the continent that has been a feature of the past decade with increasingly diverse sources of investment from outside Africa,” Devlin notes.
Led by Western student organizations such as The Releaf Group, there is no doubt that Nigeria’s high-achieving expat corps in the US and UK will be key to its future success.
What Moody’s has explicitly demanded of Finance Minister Pravin Gordhan is a cut to the civil service budget – which after last year’s 3-year settlement way above the inflation rate he cannot adjust.