You did not add a source so that we can view which organisation carried out the statistics. Or maybe you were just estimating based on your experience or environment which would be very inaccurate. There are still Africans that are tireless investors and you can find them everywhere both in the slums and the Government Residential Areas.

Haven said that I want to state that Africans also love liabilities. This is a cultural and historical defect that has kept many people in abject poverty. Africans like spending money on unnecessary thing or events. Even if a poor man dies, the community would force the family to sell lands or borrow money to give that man an expensive burial. It is only in Africa that someone must eat in a burial even if it was hunger that killed the deceased.

African traditional marriage is very expensive that people sometimes become broke after getting married. We like celebrating everything in Africa, chieftaincy title, child naming, child dedication, birthday, are all avenues that African waste resources.

When I see some of my relative come back to Nigeria from the West or the US, I am humbled by their simplicity. Their phones, clothings, cars, lifestyle are modest. Africans culturally like to be flamboyant, you can attest to that by the royal apparel of our traditional rulers. But it is time we cut all these unimportant expenses and focus on investing other profitable ventures.