The Economic Cost of the Pandemic

 The African Development Bank (AfDB) at its annual meeting held in Accra, Ghana expressed deep concern that the 30 million Africans had been pushed into extreme poverty as a result of the pandemic. 

President of African Development  Bank  Group Akinwumi Adesina said an estimated 39 million people could fall into poverty by the end of 2021.

Africa’s cumulative Gross Domestic Product,(GDP) losses are estimated between $145 billion and $190 billion. 

Africa will need a lot of resources to support its recovery. Low-income sub-Saharan African countries alone will need $245billion by 2030, while all of the sub-Saharan African countries alone will need $425billion by 2030.

AfDB leads charge to restore Africa’s economies as pandemic pushes 30m into extreme poverty | International Centre for Investigative Reporting (icirnigeria.org)