Today, 263 million children around the world don’t attend school. Another 330 million, despite being in school, receive subpar education. It’s not that their parents don’t want quality education for their children. Rather, existing solutions are priced far above what they can afford. And the solutions most can afford, many of which are government funded, are so mediocre children are better off without them.
It’s a global education problem – and a prime example of nonconsumption, defined as a large segment of the population that cannot afford to purchase and use existing solutions in the market.
Read more at CNBCAfrica