Kenya to trail East Africa in poverty reduction
Estimated number of poor people per country in millions as of 2010. Source: Brookings Institution and Africa Progress Panel.
What you need to know:
Kenya will take more than 60 years to double her income compared to less than 22 years for Uganda, Tanzania, and Rwanda.
Kenya will take longer than her East African peers to double per capita income of her population, new report by Africa Progress Panel shows.
Kenya will take more than 60 years to double her income compared to less than 22 years for Uganda, Tanzania, and Rwanda, if the current growth pattern persists.
The report attributes this to low investments in small holder agriculture investments. “Countries such as Kenya and Senegal will take over 60 years to double average incomes,” says the report.
The report links low growth in per capita income among African countries to poor investments in small holder agriculture.
There are 16 countries either in negative per capita GDP growth or growing at less than 1 per cent. It will take them at least 76 years to double average incomes.
Incomes in Africa have been growing at around 3 per cent a year. The report notes that if the per capita growth continues growing at the same rate, one quarter of all Africans-around 266 million will still be living in extreme poverty in 2030.
Small holder agriculture stands out as a primary driver of growth that reduces poverty. One of the solutions the report provides to unlock agricultural potential is through insurance for farmers and social safety nets for emergencies such as droughts to prevent distress sales of livestock or the sale of productive assets during crises.
“Investing now in Agriculture can turn Africa’s potential into prosperity,” added former Nigeria president Olusegun Obasanjo.
