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Joe Studwell

👤 Speaker
240 total appearances

Appearances Over Time

Podcast Appearances

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

But elsewhere, there are no schools until the 50s.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

And so in 1960, Africa comes into the independence era with a literacy rate of 16.16% and a female literacy rate of 5%.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

And this makes, you know, modern economic activity really close to impossible.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

And African governments put huge resources into opening schools after 1960.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

And the World Bank in the 70s did a review of what had been done and said nowhere in the world has built education systems as fast as Africa.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

I mean, it's genuinely extraordinary what has been done.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

achieved here.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

You know, if you take a single country example, I mean, someone like Julius Nyerere running Tanzania after independence, he inherited a country with a literacy rate of 15%.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

And by the mid 80s, literacy was up to over 80%.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

So all that has been very important.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

And without that educational progress, I don't think that the thickening of populations would be producing the pickup and growth that we've been seeing since the turn of the century.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

Well, I think you've got to sort of add that there's the other bit of agriculture, the manufacturing end of agriculture, which we always forget about because we always think agriculture is about farmers.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

But of course, once you've produced the crops, then the crops have got to be milled.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

They've got to be turned into processed foods.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

There has been a colossal boom in processed foods in Africa, all across Africa in the last 25 years.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

Most Africans now eat African-produced food.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

processed foods, and they're very local to local taste.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

I mean, what Nigerians eat, even in one part of Nigeria, is not what Nigerians buy in another part, and they're certainly not what they buy in different areas of Africa.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

And that has meant a fantastic boom in the manufacturing end of agriculture.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

And it's reckoned that around half of all the capital expenditure in manufacturing in Africa at the moment is going on