•30m jobs lost, 26m persons fell into extreme poverty
•Says continent needs $484bn to address pandemic impact
By Rose Onda
President of the African Development Bank (AfDB), Dr. Akinwunmi Adesina, has painted a gloomy picture of Africa, saying dwindling economic fortunes in 2020 resulted in $165 billion decline in the continent’s Gross Domestic Product (GDP). Adesina said in the same year, over 30 million jobs were lost while 26 million persons fell into extreme poverty.
The former Minister of Agriculture made the assertions in a paper titled, “Mobilising Financing for Africa’s Accelerated Economic Recovery, Development and Integration,” which he delivered to African leaders at the 35th Ordinary Session of the Assembly of the African Union in Addis Ababa, the Ethiopian capital, recently.
He said, “It has been a global economic cyclone. Africa witnessed a decline in GDP growth of 2.1 per cent in 2020, its lowest in 20 years. Africa’s GDP fell by $165 billion. Over 30 million jobs were lost and over 26 million people fell into extreme poverty.”