Are one in three Africans really middle class?

One out of three Africans are now middle class, according to a new report, but can that really be true??

(CNN) - A report released last week by the African Development Bank AFDB said that Africa's middle class  are spending 40 % more than in 2005

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"The malls that you see mushrooming everywhere, the cars that you see in the roads, the traffic jams in Lagos, Johannesburg, Nairobi ,that speaks of a growing middle class" says Mthuli Ncube, chief economist and vice president of the AFDB.

(Vangguard) - Strong economic growth and a move towards a stable, salaried job culture and away from traditional agricultural activities have cause the number of middle class Africans to triple over the last 30 years.

(CNN) - Overall, it is economic growth that determines the rise of the middle class, but economic growth is in turn driven by social and economic factors. Africa’s middle class is strongest in countries that have a growing private sector as many middle class individuals tend to be local entrepreneurs. In a number of African countries, a new middle class has emerged due to opportunities offered by the private sector

(Vangguard) - Geographically, middle class levels vary a great deal across African countries. North Africa has the highest. Tunisia has the highest at almost 90%, followed by Morocco at almost 85% and Egypt with almost 80%. But a significant number of these belong to the ‘floating’ category with a strong danger of falling into poverty due to economic shocks.

“Other countries with high percentages of the middle class include Gabon, Botswana, Namibia, Ghana, Cape Verde, Kenya and South Africa. Countries at the bottom end include Mozambique, Madagascar, Malawi, Rwanda, Burundi and Liberia.

“The report maintains the growth in the middle class is good news for the future prosperity of Africa, but also points out the continued high levels of income inequality on the continent. The continent has a extremely rich elite: ‘About 100,000 Africans had a net worth of USD800 billion in 2008, or about 60% of Africa’s GDP or 80% of sub-Saharan Afeica