The disparity in wealth, income, and economic well-being has led to widening prosperity gaps in African countries, according to the World Bank's Poverty, Prosperity, and Planet Report 2024. The report highlights the top 10 African countries with increasing prosperity gaps, underscoring the need for economic advancement and resource access to bridge the divide between rich and poor.

The Global Prosperity Gap, a World Bank measure, reflects how much incomes need to be multiplied to reach the prosperity standard of $25 per day, the threshold for high-income status. This term describes the divide between rich and poor countries, affluent and less affluent individuals, and developed and underdeveloped regions. The report notes that the number of economies with high inequality stands at a 24-year low, reflecting a one-third reduction since the turn of the century.

Around 1.7 billion people, or 20% of the global population, live in high-inequality economies, mainly in Sub-Saharan Africa and Latin America. The Prosperity Gap varies from 1.7 in Europe and Central Asia, to over 12 in Sub-Saharan Africa, indicating significant income disparities. In Sub-Saharan Africa, incomes would need to rise more than twelvefold to reach the $25 per day standard.

The prosperity gap and inequality are closely connected, with the gap widening as inequality grows. As inequality rises within a society or between nations, disparities in wealth, resource access, and opportunities are amplified, leading to a larger prosperity gap. In countries with greater inequality, the prosperity gap is higher even with the same average income. As the wealth of the rich grows faster than that of the poor, the prosperity gap deepens.

The report calculates the prosperity gap by dividing $25 by an individual's daily earnings. For instance, an individual from France, earning above the prosperity gap, would need a factor of less than 1 (0.5) to close the gap. In contrast, an individual from Tanzania, earning below the gap, would require a factor greater than 1 (2.5), while a person in South Sudan would need a significantly higher factor, over 5 (10). While income growth for any individual helps reduce the prosperity gap, the reduction becomes more substantial the poorer the individual is.

Sub-Saharan Africa represents 39% of the Global Prosperity Gap, despite making up only 16% of the global population. This discrepancy highlights the significant portion of the region's population that remains far from the prosperity threshold. The report lists the 10 African countries with the highest prosperity gap, ranked from the poorest to the richest, as follows:

1. Madagascar - 18.90 2. Congo, Dem. Rep. - 17.16 3. Malawi - 14.50 4. Mozambique - 14.29 5. South Sudan - 13.94 6. Central African Republic - 13.39 7. Burundi - 12.81 8. Zambia - 11.87 9. Niger - 11.15 10. Rwanda - 9.72

The widening prosperity gap in these African countries underscores the need for economic policies and initiatives that promote resource access, opportunities for economic advancement, and reduce income disparities. As the global economy continues to evolve, addressing these gaps will be crucial in achieving sustainable development and reducing poverty.

The World Bank's report serves as a call to action for policymakers, business leaders, and individuals to work together in bridging the prosperity gap and promoting economic growth that benefits all. By understanding the complexities of the prosperity gap and its implications, we can take steps towards creating a more equitable and prosperous future for Africa and the world.