Report: Most African Countries Will Be Middle Income By 2040

Written by Dana Sanchez

Jul 25, 2013

By 2040, Carlos Lopes predicts most African countries will be middle income, Africa will have the largest work force of any continent, and it will be the youngest workforce.

Lopes was appointed U.N. undersecretary-general a year ago. He also serves as executive secretary of the Economic Commission for Africa based in Addis Ababa, in charge of promoting economic and social development in Africa and fostering regional integration.

“There is a sea change taking place (in Africa,)” Lopes said. “We got African ministers of finance to approve the idea of transforming African economies and shift from agriculture into industrial and service sectors.”