June 13th, 2022 at 09:35 am
Africa’s 5 poorest countries in 2021
Though the African continent is regarded as the poorest continent, there are only a few that makes it so. Among the fifty countries in Africa, less than half of them are considered as world’s poorest. Years of bad leadership, political instability, and low economic growth rate have worsened the condition on the continent.
Although the continent is endowed with natural resources, people continue to live in absolute poverty. Per the world rankings for 2021 These African countries were rendered the poorest on the continent.
1 . Firstly, BURUNDI ($270)
The Republic of Burundi is a landlocked country in East Africa. It shares a border with Rwanda, Tanzania, and the Democratic Republic of Congo. The country is worth $270 USD. Verified information shows that Burundi is currently the poorest country on the African continent. It also makes the list of rankings in the entire world as one of the poorest countries. Burundi has a GDP per capita of $771 and a GNI per capita of $270.
2 . Secondly, SOMALIA ($310)
Somalia is widely regarded as a failed state due to its lack of a central authority. The Republic of Somalia is located in the Horn of Africa. It shares borders with Ethiopia, Djibouti, and Kenya.
Somalia has been conflict-ridden for many years now and it also battles economic challenges. The economy is so poor that it has a GDP per capita of $875 and a GNI per capita of $310.
3 . Thirdly, THE CENTRAL AFRICAN REPUBLIC ($335.03)
Central African Republic’s GDP per capita stood at $335.03 in December 2018. Over three-quarters of the population live below $1.90 per day. The economy has suffered socio-political crises which have affected its growth. The sectors that contribute to the growth of the economy are agriculture and mining.
The inflation rate in 2018 was 3.9%. The central African Republic has an economic freedom score of 49.1 and is given number 161 worldwide in the 2020 index.
4 . Another is LIBERIA ($360)
Liberia’s current GDP per capita is $360. It has a 54% poverty rate based on the World Bank Report. It is one of the countries with numerous rankings as the world’s poorest country.
The country enjoyed political stability since 2003, but its leadership failed to uplift the citizens from poverty. High external borrowing has put the country at the risk of over-reliance on foreign funding. Also, poor and slow infrastructure development continues to impact negatively on potential foreign investors. This continuously leaves the country in poverty.
5 . Also, NIGER ( $400)
Niger is a landlocked country. As of 2020, the country’s GDP stands at $400. According to the World Bank statistics for 2020, the poverty rate in the country is 44.1%.
The country is a host of over 300,000 refugees. It has high population growth rates, food insecurity, political instabilities, and natural crises. About 40% of economic growth is from the agricultural sector.
Also, 80% of the total population largely depends on agriculture for their daily livelihood. Unfortunately, the nation is heavily reliant on foreign debt. This puts the country at risk of further financial distress.
5 . Last but not least, MALAWI ( $402.400)
Malawi is surrounded by other nations and its located in southeastern Africa. It is among the most reduced poverty nations. It has over 53% of 15 million people living in vile poverty.
In December 2021, the GDP was at $402.400. Their economic growth is greatly impacted by agricultural activities. The tobacco sector is also strong in the nation.
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