Africa’s improvement is due, among other reasons, to better governance; as opposed to what people imagine, currently only 5 out of 54 African countries are dictatorships.
In November 2012, the Institute of International Finance (IIF) reported that the African growth is not a dream but a reality due to the fact that the African economy has been in constant growth for a decade. All studies show that this year’s growth rate will be 6%.
According to the World Bank’s report Doing Business 2014 published in October 2013, ten African countries are among the “Top 100” countries with the best economic perspectives and facilities to invest (four of them are among the top 50). It should be noted that according to the report, no European Union country are among the top 10.
The German Bundestag has now decided on the systematic introduction of a minimum wage amounting to 8,50 Euro starting in 2015 and based on the Law on the Regulation of a General Minimum Wage (Mindestlohngesetz-MiLoG).
In that respect, Germany stands at the bottom of the list. There are not many areas left where this is Germany’s case as Europe’s strongest economic nation is usually the perfect example in almost all aspects. For over ten years, trade unions and politicians have made every effort to introduce a legal minimum wage.
However, there will first be a range of derogations as transitional arrangements, for young people under 18, interns, seasonal workers, newspapers delivery staff and unemployed. They still have to be worked out by the parties to the collective agreement. So the minimum wage should come fully into effect in Germany only in 2017.