World Bank reveals COVID-19 could force 23 million Africans into poverty

World Bank reveals COVID-19 could force 23 million Africans into poverty

- About 23 million Africans could become poor as a result of COVID-19, the World Bank has reported

- It added that people in the affected places could survive on less than US$1.90 (GHc11.20p) per day in 2020

- Countries to possibly record an increase in the number of poor people are Nigeria, the Democratic Republic of Congo and South Africa

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The World Bank has predicted that about 23 million sub-Saharan Africans could become poor due to the outbreak of COVID-19.

The prediction could mean the affected population may live on less than US$1.90 (GHc11.20p) per day in 2020.

Countries such as Nigeria, the Democratic Republic of Congo and South Africa are likely to witness an increased number of poor people.

Per a report, the number of people to be affected in the three countries are 5 million, 2 million and 1 million respectively.

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Across the sub-Saharan region, overall poverty is likely to rise given that low-income workers are more likely to lose their jobs as a result of COVID-19.

According to Fitch Solutions, rising unemployment and higher food prices are driven by the pandemic will feed into other drivers of protests, such as high youth unemployment and corruption.

Fitch added that while the pandemic has temporarily placed a lid on these tensions, they are likely to re-emerge and intensify once lockdown measures are lifted.

Meanwhile, a World Bank report shows that sub-Saharan Africa is likely to record its first recession in 25 years.

The observation comes at a time when the coronavirus has slowed down economic activities and disrupted trade all over the world.

The report shows that the region’s Gross Domestic Product (GDP) is likely to contract between 2.1% and 5.1% in 2020; economic growth was 2.4% in the year 2019.

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Legit.ng had reported that COVID-19 pandemic might cost 20 million Nigerians their jobs if it continues, Senate president, Senator Ahmed Lawan, has said.

The senator disclosed this in Abuja ahead of the first anniversary of the Ninth Senate.

Lawan also said that international politics is frustrating Nigeria’s efforts to acquire sophisticated weapons for the Armed Forces to fight insecurity.

He claimed that whenever the Nigerian government made requests to buy security equipment from some foreign countries, it would take longer time than expected before they were granted.

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Source: Legit.ng

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