29th February 2020
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The World Data Lab recently published data showing that poverty in Africa is falling. As at March 2019, more Africans are falling below the extreme poverty line. According to this data, at the rate of 267 people per day, more people will not be born in poverty. By the end of this year, this number is expected to increase to over 3000 people per day resulting in a 1 million-person reduction in total poverty by 2020 according to Bloomberg.

Going by this trend, the extreme poor in Africa is expected to reduce by 45 million in 2030 representing 24% down from 33.5 percent.  Thankfully, four countries already have rates below 3 percent. They are Equatorial Guinea, Gabon, Mauritius, and Seychelles. The Gambia and Mauritania are expected to join this group by 2030.

Source: Bloomberg & World Data Lab

According to Bloomberg, extreme poverty will be extinct in the following countries:

  1. Ethiopia is currently Africa’s second largest economy. 22 million people will be lifted out of extreme poverty by 2030 reducing the rate from 25.6 percent today to 3.9 percent.
  2. Ghana is projected to reduce the total number of people living under poverty by 2 million reducing the rate from 12.5 percent today to 4.4 percent by 2030.  
  3. Kenya will lift 3.5 million people out of poverty by 2030 from 20.9 percent today to 4.3 percent. IT’s population is projected to increase by 23 million by the same time.
  4. Angola is expected to reduce extreme poverty by 3.5 percent in 2030.  
  5. Côte d’Ivoire will also make substantial progress in poverty reduction. By 2030, 5.3 million of its citizens are projected to be lifted out of poverty, bringing down the percentage of citizens living in extreme poverty from 17.2 percent today to 4.9 percent.
  6. Djibouti, is projected to reduce relative poverty from 14.2 percent to 4.6 percent—lifting over 80,000 of its citizens out of poverty by 2030.
Source: Bloomberg & World Lab Data

Going by these trends, if countries continue to implement the right economic policies, African economies will be able to meet the sustainable development goal targets.