Advertisement
Business

No end to poverty trap

Advertisement

A review looking at the possibility of Malawi ending the poverty cycle through successful implementation of Sustainable Development Goals (SDGs) has shown that chances of this happening are very slim.

The study has been conducted by the Africa Institute for Corporate Citizenship (AICC) and highlights occurrences of natural disasters, corruption—in both the public and private sectors dormant State actors and misleading religious teachings as some of the causes of the prevailing and increasing poverty levels.

The review also points out that there has been a direct correlation between the performance of the economy and poverty levels where, when the economy is bouncing back, poverty levels follow suit.

Advertisement

AICC Chief Executive Officer, Felix Lombe, said Malawi needs collaborative efforts in order to register success in the implementation of SDGs.

“Going by this trend, we can say that we may not be able to meet the target of eradicating poverty in all its forms. One can always hope that a number of measures will be put in place so that we fast-track the process.

“The very reason why we are not on track is that we seem not to be well prepared. We do not have the institutional parameters but, at the same time, if you need to reduce poverty you need to register a Gross Domestic Product growth rate of at least six percent, which is quite a task for Malawi,” Lombe said.

Advertisement

He added that this would be difficult as the economy is not creating a favourable environment for the industry, a sector that is key to job creation at a time the country’s population is steadily growing.

A recent report released by Oxfam finds that the richest one percent in the world controlled 82 percent of wealth while the poorest half got nothing.

Facebook Notice for EU! You need to login to view and post FB Comments!
Advertisement
Tags
Show More
Advertisement

Related Articles

Back to top button
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker