The science suggests that if you we're assigned both groups at random, you wouldn't be able to tell the difference.
There are only a handful of studies because it's considered kind of a dumb question to ask. But Alfie Kohn references some of them in his books, I think in What Does It Mean To Be Well Educated? But the ones that exist consistently show the same thing.
This includes the huge internal study that Google HR did:
"Unfortunately, most of the academic research suggests that the factors Google has put the most weight on — grades and interviews — are not an especially reliable way of hiring good people."
"When all this was completed, Dr. Carlisle set about analyzing the two million data points the survey collected. Among the first results was confirmation that Google’s obsession with academic performance was not always correlated with success at the company."
http://www.nytimes.com/2007/01/03/technology/03google.html?e...
That's what the results found. Google just didn't change their hiring policy accordingly.
-Schools in Africa grade students, who are they trying to keep out?
-Some schools might be run as a business; I think most aren't (they're subpar and inefficient). If they are, they're run as a mom and pop. If San Francisco schools were businesses, they'd have gone bankrupt and displaced a while ago.