The prosperity gap in African countries, which refers to the stark differences in economic well-being among regions and social groups, has been a persistent issue. A recent report by the World Bank has shed light on the top 10 African countries with the most significant prosperity gap due to inequality, with Madagascar ranking first. The report, titled "Poverty, Prosperity, and Planet Report 2024," reveals that the prosperity gap has stopped gaining since the pandemic due to a reduction in economic growth and a divergence in mean incomes across countries.

The prosperity gap is measured by the average factor by which incomes need to be multiplied to bring everyone in the world to the prosperity standard of $25 per person per day. According to the report, the prosperity gap is roughly equal to the average income when countries reach high-income status. Between 1990 and 2024, the Global Prosperity Gap improved at an annual rate of 2.3 percent, with global mean income increasing at a yearly rate of 1.48 percent and global inequality declining by 0.86 percent.

The report highlights that most high-inequality economies are found in Latin America, the Caribbean, and Sub-Saharan Africa, although the number of economies with high inequality globally has fallen. Within Sub-Saharan Africa, inequality is highest in Southern and Central Africa. High inequality signifies a shortage of social mobility, which might impede long-term possibilities for poverty reduction and shared prosperity.

In contrast, social cohesiveness and political and social stability are positively connected with reduced inequality. The report states that "in countries where levels of income or consumption inequality are higher, an increase in growth results in a smaller reduction in poverty." Simulations suggest that decreasing inequality can have a major influence on lowering poverty.

The top 10 African countries with the most excess prosperity gap due to inequality are Madagascar, Democratic Republic of Congo, Mozambique, South Sudan, Zambia, Central African Republic, Malawi, Burundi, Rwanda, and Niger. These countries have inequality indexes ranging from 12.64 to 27.32, indicating significant disparities in economic well-being.

The implications of this report are far-reaching, highlighting the need for policymakers to address inequality in order to reduce poverty and promote shared prosperity. By understanding the root causes of the prosperity gap, African countries can work towards creating more equitable societies and promoting sustainable economic growth.

In conclusion, the World Bank's report provides a stark reminder of the need to address inequality in Africa. By shedding light on the top 10 African countries with the most significant prosperity gap due to inequality, the report serves as a call to action for policymakers and stakeholders to work towards creating a more equitable and prosperous continent.