Climate Change Is Stunting Africa’s Economic Growth

Via Bloomberg, a look at the projected impact of climate change on Africa:

  • Some countries are spending 9% of their GDP fighting extremes

  • Adaptation will cost $30 billion to $50 billion yearly

Climate change is causing weather extremes that have been costly for African economies, according to a report.

Countries on the continent are losing on average 2-5% of their gross domestic product annually, the Weather Meteorological Organization said in a report released this week. Some are spending up to 9% of their GDP fighting climate extremes, it said.

Africa is warming up faster than the global average, with North Africa heating up the quickest, it said. In Egypt, heat waves reduced the yield of wheat and caused water shortages, increasing the country’s dependence on grain and energy imports.

But impacts have been seen across the continent.

Zambia experienced severe droughts that curbed hydro-power generation, deepening cuts. It also wiped out half of the southern African country’s staple corn crop and prompted the government to slash its growth forecast to 2.3% from 4.8%.

Read more: Inside the Bank Financing Africa’s Green Growth

Floods across East Africa in May claimed at least 400 lives, destroying cropland and washing away livestock.

Last week, authorities in Ghana said they planned to raise $500 million to mitigate the impact of “drought-like conditions,” which are threatening to cause food shortages in the West African country.

In sub-Saharan Africa, the WMO report estimates that climate adaptation will cost $30 billion to $50 billion yearly over the next decade.



This entry was posted on Saturday, September 21st, 2024 at 11:53 am and is filed under Kenya, Zambia.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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