Economics
24 mins
This article examines the resilience and significance of Africa’s informal sector, which employs the majority of the continent’s workforce and contributes substantially to GDP. Despite challenges like limited credit access and exclusion from formal systems, the sector thrives through adaptability and community support. The article traces its historical roots, critiques Western development models, and advocates for alternatives like Africapitalism, which prioritize community well-being, long-term social wealth, and sustainable local development over traditional economic growth frameworks.