Four in ten Africans, or over 416 million people, lived on less than $1.90 per day in 2015, according to a new report released by the World Bank on Wednesday. It said extreme poverty will become almost exclusively an African phenomenon by 2030, with 90 percent of the world’s poor projected to live on the continent. That is up from 55 percent in 2015 and it will happen unless drastic action is taken, the bank warned. The rate of poverty reduction in Africa “slowed substantially” after the collapse in commodity prices that started in 2014. It resulted in negative gross domestic product growth on a per capita basis.
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