By Samuel
The African Development Bank (AfDB) has said an additional 49 million people across Africa could be drawn into extreme poverty as a result of the novel Coronavirus pandemic (COVID-19).
Of this figure, Nigeria and the Democratic Republic of Congo are predicted to account for the largest number of citizens.
The Bank stated this on Tuesday during a webinar to launch the 2020 African Economic Outlook (AEO) Supplement.
According to the lender, the AEO supplement, a follow-up to the 2020 African Economic Outlook report launched in January, contains revised projections.
The new report takes into consideration the impact of the novel Coronavirus (COVID-19) which first entered Africa through Egypt in February, it said.
Presenting the new projections, the Bank’s Director of the Macroeconomic Policy, Forecasting and Research Department, Dr Hanan Morsy, noted that COVID-19 has reversed the gains made by Africa in the area of poverty and employment to meet the United Nations’ Sustainable Development Goals.
Morsy, who also noted that about 30 million jobs could be disappearing in the coming year, added that most of the extremely poor will be from West and Central Africa.
East Africa, on the other hand, is expected to be more resilient to the impact of COVID-19, she said.
The director, however, said that Africa’s strength of having one of the world’s highest youth population with 60% under 24 years, could help mitigate the effects of the pandemic.
The AEO supplement reads in part, “Although the number of people in extreme poverty in Africa (using the $1.90 international poverty line) was projected to reach 425.2 million in 2020 under the no-outbreak scenario, COVID–19 could increase it further to 453.4 million in the baseline scenario and 462.7 million under the worst-case scenario.
“In 2021, the number of extreme poor could increase by 34–49.2 million due to the pandemic as GDP growth continues to fall below population growth rates.
“Nigeria and Democratic Republic of Congo, two of Africa’s most populous countries, would record the largest increases—8.5 and 2.7 million respectively in the baseline scenario in 2020, and 11.5 and 3.4 million in the worst-case scenario.”