This brief article is a continuation of the detailed overview we did of development funds that invest in poor countries. You can read more about these funds’ economic impact in our article on 30 Least Developed Countries In The World And Funds That Invest In Them.
10. Eritrea
GDP Per Capita: $643
A northeast African nation, Eritrea’s economy primarily relies on subsistence agriculture, engaging a significant portion of its workforce in this sector. Challenges such as a restrictive political climate and limited foreign investment impede the nation’s economic development.
9. Democratic Republic Of Congo
GDP Per Capita: $586
With 62% of its population living on less than $2.15 a day, the Democratic Republic of Congo experiences stark poverty. Mining, especially of cobalt and coltan, serves as an economic pillar. The international community actively supports initiatives for peacekeeping and humanitarian aid in the country. Notably, the population of DR Congo is expected to surge to 197 million by 2050, a significant increase from the current 98 million.
8. Mozambique
GDP Per Capita: $541
While Mozambique’s GDP has risen to $19.909 billion in 2023 (up from $14.8 billion in 2018), the extreme poverty rate of 64.6% overshadows this progress. According to the Borgen Project, a substantial percentage of the rural population remains impoverished, largely due to their exclusion from the broader economic landscape.
7. Niger
GDP Per Capita: $533
Niger, located in West Africa, is in a constant battle with ongoing desertification and climate vulnerabilities that adversely affect its main economic activities, pushing nearly half of its population into destitution.
6. Madagascar
GDP Per Capita: $505
Madagascar, the fourth-largest island globally, is renowned for its unique biodiversity, hosting many species not found elsewhere on Earth. However, challenges like severe deforestation and resource overexploitation persist. Thus, development initiatives in Madagascar focus on conservation and sustainable agriculture to improve its economic status.
5. Sierra Leone
GDP Per Capita: $461.8
Sierra Leone, situated in West Africa, is known for its resilient population and abundant mineral wealth, including diamonds. However, the legacies of a civil war and the 2014 Ebola outbreak have hindered its socio-economic development.
4. Somalia
GDP Per Capita: $461.4
With a largely nomadic population engaged in livestock herding, Somalia faces food insecurity and limited access to services. While international efforts focus on providing humanitarian assistance, additional capital is necessary to enhance the country’s workforce potential.
3. Central African Republic
GDP Per Capita: $427
The Central African Republic, with a GDP of $2.736 billion and a population of 5.5 million, has nearly 71% of its people living on less than $2.15 a day, experiencing extreme food insecurity. Despite witnessing some economic progress over the past decade, evidenced by a CAGR of 4%, the country requires substantial effort to exit the list of least developed nations.
2. Afghanistan
GDP Per Capita: $363
Decades of conflict and political instability have severely affected Afghanistan’s socio-economic landscape. International assistance in the country focuses on humanitarian relief, reconstruction, and development, with the US being the primary donor. While Afghanistan boasts valuable natural resources, including precious stones and minerals, ongoing instability impedes their systematic exploration.
1. Burundi
GDP Per Capita: $238
Burundi, one of the world’s poorest countries, struggles with high rates of malnutrition, illiteracy, and unemployment. The predominantly rural population relies heavily on farming, with coffee and tea as the main exports, significantly contributing to the economy.
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