Sub-Saharan Africa has the second largest population of the four regions that the IsDB operates in, with 28%, or 493 million people. Nigeria is the most populous of the region’s member countries, with a population of 187 million.
The four countries of Cameroon, Côte d’Ivoire, Gabon, and Nigeria are considered middle-income countries, with the rest being low income countries. Sub-Saharan Africa’s per capital income is the smallest of the four regions, at US$3,902*.
While significant progress has been made in reducing poverty since 2000, it remains pervasive. The region faces an enormous infrastructure gap, the investment climate and regulatory environment are relatively poor, and there are still weaknesses in governance and institutional capacity. Plus, of the 16 countries worldwide which are experiencing ‘alarming’ situations of hunger, five are IDB member countries in Sub-Saharan Africa.
The region’s short-term challenges include sustaining growth momentum and strengthening fiscal stability, achieving food security, developing the agricultural sector and tackling youth unemployment. Medium-to-longer term challenges include the development of human capital as well as infrastructure.
Out of the total IDB Group financing (US$130.8 billion) since inception to the end of Q3 2017, US$21.7 billion has gone to Sub-Saharan Africa. The majority of net approvals for this region were mainly in transport.
*Adjusted by purchasing power parity (PPP). Relates to 2016.