Nearly 50 million Africans could be driven into extreme poverty in the economic fallout of the pandemic, the African Development Bank (AfDB) says.
In January, the African Development Bank projected that the growth rate of extreme poverty would decline slightly both this year and next.
But now as COVID-19 grips the continent, the bank has upwardly revised its estimates to predict up to 37.5 million additional people entering extreme poverty in 2020, and that this could reach 49.2 million by 2021.
Two of the continent’s most populous countries — Nigeria and the Democratic Republic of the Congo — could see the largest increases in people entering extreme poverty. Nigeria could see an increase of 8.5 million to 11.5 million this year and DRC could see an increase of 2.7 million to 3.4 million, the report said.
About 60% of the people newly entering extreme poverty are expected to live in West and Central Africa.
Roughly a third of the continent — 425 million people — was already expected to live below the international poverty line of $1.90 per day in 2020, the AfDB said in its African Economic Outlook, forecasting that the situation would further deteriorate. -AFP