Nigeria’s former President, Chief Olusegun Obasanjo
While acknowledging that Africa remains one of the world’s fastest growing regions in the world, it said: "In the past decade and a half, the only global region to grow consistently faster than Sub-Saharan Africa has been developing Asia. Africa’s average incomes have risen by a third."
The way out of the poverty menace, the report advised was for African governments to focus on agriculture to reduce poverty, a sector that supports two thirds of all African people. "Africa could feed itself but instead it imports food worth $35 billion per year." the Report explained.
APP said: "Food production in Sub-Saharan Africa is falling behind. It now exports less than Thailand."
The Report further stated: "Urbanisation, hunger, and the heavy cost of food import bills mean that Africa must produce more food.
Africa has been losing an estimated 5.7 percent of its Gross Domestic Product (GDP) an equivalent of $50 billion, to illicit financial flows, which is more than the continent spends on health.