At the 35th Ordinary Session of the Assembly of African Union in Addis Ababa, the former Minister of Agriculture and President of the African Development Bank (AFDB), Dr. Akinwumi Adesina, said that Africa’s GDP in 2020 declined by $165 billion.
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The President of the African Development Bank, giving a gloomy picture of Africa’s situation, said that about 30 million people lost their jobs while another 26 million people fell into extreme poverty. He said that this decline is Africa’s worst performance in 20 years.
The AFDB Boss added that the decline is because of the 2020 global pandemic. Speaking on African leaders’ response to Covid, he commended their efforts, stating that while 11 percent of its population are fully vaccinated,16 percent are partially vaccinated.
In delivering the report in Ethiopia, the former minister stressed the need for Africa to invest in agriculture and locally produced vaccines. He added that as AFDB has always supported African projects in the past, it would continue to play its role in building Africa.