• Fri. Sep 30th, 2022

Top Poorest Countries In Africa 2022

 Africa is the world’s poorest continent. Almost every second person in Sub-Saharan African states lives in poverty. Some countries, however, are poorer than others. Continue reading to learn about Africa’s top ten poorest countries.

Somalia

Years of conflict and instability have left Somalia’s economy vulnerable to a variety of issues, including population growth outpacing economic growth, acute poverty and vulnerability, recurring external trade, and climate shocks.

The country’s economic strength has also been harmed by a lack of budgetary space and institutions, ongoing insurgency, and an unfinished political settlement.

Republic of Central Africa

The Republic’s per capita income is frequently stated to be around $400 per year, making it one of the lowest in the world.

Alcoholic beverages, gems, ivory, bushmeat, and traditional medicine are mostly exported from the Central African Republic.

Burundi
Burundi is a landlocked country with limited resources and an underdeveloped manufacturing sector. Agriculture employs more than 90% of the population and accounts for more than 40% of GDP. Coffee and tea are Burundi’s main exports.

The majority of Burundians, particularly in rural areas, live in poverty.

According to the Humanitarian Response Plan (HRP), which is estimated at $106 million, food insecurity is about twice as high as the average for Sub-Saharan African countries, with roughly 1.77 million people in need of humanitarian aid in 2019.

Liberia

Liberia’s economy is severely underdeveloped, owing in major part to the First Liberian Civil War, which lasted from 1989 to 1996. Liberia is one of the world’s poorest and most underdeveloped countries.

Foreigners, mostly of Lebanese and Indian heritage, dominate Liberia’s commercial sector.

A small percentage of Chinese people work in agriculture.

Oriental Timber Corporation (OTC), the largest timber concession, is Indonesian-owned.

Niger

Niger is a developing country that consistently scores around the bottom of the UN’s Human Development Index (HDI); in 2015, it was ranked 187th out of 188 countries, and in 2018 and 2019, it was placed 189th out of 189 countries.

Periodic drought and desertification threaten many of the country’s non-desert regions.

The economy is based on subsistence farming, with some export agricultural in the more fertile south and raw material exports, particularly uranium ore.

Due to its landlocked location, desert terrain, inefficient agriculture, high fertility rates without birth control and the resulting overpopulation, poor educational levels and poverty, lack of infrastructure, poor healthcare, and environmental degradation, Niger faces serious development challenges.

Malawi

Malawi is one of the world’s poorest countries. Agriculture is the mainstay of the economy, and the country’s rural population is rapidly expanding.

Malawi’s government is significantly reliant on foreign funding to meet its development needs, albeit this need (and the amount of aid available) has declined since 2000.

In the face of massive unemployment, Malawi’s government has obstacles in developing and increasing the economy, improving education, healthcare, environmental protection, and being financially self-sufficient.

Mozambique

Despite improvements in economic conditions, Mozambique’s growth remains modest following the 2015 commodities price shock and the 2016 hidden loans crisis.

Tropical cyclones Idai and Kenneth wreaked havoc on agricultural production, resulting in lower commodity prices and reduced economic hopes for 2019.

The real gross domestic product (GDP) growth rate is expected to be 2%, lower than the average of 3.7 percent seen between 2016 and 2018, and the lowest since 2000, when Mozambique was hit by disastrous floods in the south.

 

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