AfDB Warns Super El Niño Could Cost Africa Billions

The African Development Bank warns that an approaching “super” El Niño could cost African economies $10 billion to $20 billion, slow growth, and force large-scale displacement, unless governments shore up climate resilience now. In an interview with Reuters, Anthony Nyong, the bank’s director for climate change and green growth, said the most exposed countries could see GDP fall by 1% to 2% on average. 

He added that the economic fallout would go beyond agriculture, hitting food production, water supplies, public budgets, and banking systems as governments struggle to cover the costs of climate disasters. 

Meteorologists predict that warming Pacific waters could lead to one of the strongest El Niño events ever recorded, raising the odds of prolonged droughts, severe floods, and destructive storms across parts of Africa. lasting from 2023 to 2024, triggered widespread crop failures in Southern Africa, massive floods in East Africa, and sharp food price hikes in several countries., 

The last El Niño Nyong listed Sudan, South Sudan, the Democratic Republic of Congo, Somalia, Mali, Burundi, and Nigeria among the nations likely to be hit hardest. He warned that shortages of food, water, and grazing land could push several people to migrate, adding pressure on already vulnerable communities and neighboring countries. 

The AfDB estimates African farmers have already lost nearly $330 million in income this year, while fisheries face growing threats from warmer seas and stronger storms. In many cases, The bank says Africa may need up to $100 billion this year alone to prepare for and respond to the expected impacts. 

SOURCE: Reuters