African countries are among the youngest countries. In Niger the median age of population is only 15 years, in Uganda and Angola it is 16 years. A young population is an important pillar for economic growth. Although, it is the sole cause of it, and having a young population does not mean economic growth is guaranteed. It is a necessary condition for growth, not the sufficient condition. Many African countries are not using this potential, lack of institutions, lack of stability and ongoing civil conflicts and wars have made it impossible for African countries to take advantage of this potential.Â
In more developed countries, the median age of people is higher. There are two main mechanisms contributing to it. First of all, because of healthier lives and more expenditure of health and medicine, people tend to live longer in those countries, and that means there are more old men and women in the society. On the other hand, people in those countries tend to have fewer kids. This means fewer babies, together it makes the population older. Olde countries lack the necessary conditions for fast economic growth. In these countries people would have to continue to work and postpone retirement, because there is not enough young workforce to fulfill the retirements and to contribute to pension funds.
