One thing that struck me in Nairobi was the income gap. Neither picture is truthful. The same misconception can come from looking at country-level economic statistics unwisely. “Consumer income is one of the most important economic factors creating distance between countries,” according to my colleague Ghemawat. Simple as this may seem, it gets complicated when […]
Kenya’s middle class and economic growth
A couple of weeks ago the news came out that Kenya has seen its economy grow 25% after statistical revision. Officially, Kenya is now a “middle-income country.” A few months ago, a similar type of revision brought Nigeria’s economy to the top of African countries in terms of the size of the economy, surpassing South […]