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Sub-Saharan Africa's structural informal-employment share of around 85% has macro consequences. The single most-binding consequence:

Higher productivityNarrow tax base — formal-sector employment around 15% of jobs produces 70-80% of personal-tax receipts, which means fiscal consolidation falls disproportionately on the formal sector and creates political-economy fragility when revenue needs to rise (Kenya 2024 protests)Better central banksLess corruption