A report from the World Bank has ranked Kenya as the third poorest lower-middle-income country in the world.
The report dubbed The World Bank State of Economic Inclusion Report 2021 indicates that over 40% of Kenyans are living in abject poverty. In the report, Zambia was ranked last with 61%, closely followed by Nigeria with 58%.
Ivory Coast came in fourth last with 30%.
Other countries that are struggling with poverty include India and Bangladesh which were found to have poverty rates of 22% and 20.5% respectively.
According to World Bank, by the year 2030, they’ll be around 479 million people living in extreme poverty across the world.
The Bank, however, noted that several plans are in place to eradicate poverty by the year 2030 in line with the Sustainable Development goals.
Meanwhile, despite struggling with poverty, Kenya has previously been ranked as one of the fastest-growing economies across the continent.
In East Africa, Kenya is the region’s economic hub. It is the first nation to achieve a middle-income country status.