JOHANNESBURG - Sub-Saharan Africa has little or no chance of achieving the UN target of having not more than three percent of its population living in extreme poverty by 2030, the Daily Nation reported on Wednesday, citing a new World Bank report.
The rate of reduction is decelerating despite the dramatic decline of poverty in many parts of sub-Saharan Africa (SSA) since the early 1990s.
Government statistics from 2015 showed that more than half of the 736 million poor people on the globe resided in SSA and more than 85 percent of the poor resided in either that region or South Asia.
Over half of the world’s extremely poor 368 million people live in just five countries: India, Nigeria, Democratic Republic of Congo, Ethiopia, and Bangladesh, which also happen to be the most populous countries in South Asia and SSA.
Nigeria is expected to overtake India in terms of having the most people living in extreme poverty; that is, living on less than $1.90 a day.