July 12, 2022

The head of the African Development Bank (AFDB), Akinwumi Adesina has said African Nations need $424 billion this year to help them cope with the devastation caused by the coronavirus pandemic.

A Bloomberg report stated that after decades of progress in the continent’s fight against poverty, covid-19 plunged 30 million Africans into “extreme poverty” in 2020.

Meanwhile, Russia’s war on Ukraine has fuelled inflation and left millions hungry while surging prices along with slowing economic growth are also increasing indebtedness in the African region.