Over 38% of Ugandans are stuck in absolute poverty and find it hard to meet their basic needs everyday according to the World Poverty Clock. The report puts the number of Ugandans stack in poverty at 18,651,575.
Uganda is ranked as one of the low income countries and also among the Least Developed Countries (LDCs) despite attempts by the NRM government to fight poverty and push the country into the middle income status.
World Poverty Clock categorizes people who survive on less than $1.90 which is roughly UGX 7056 a day. United Nations holds 1.90 as the poverty line/ Poverty threshold below which one must find difficulty in attaining fundamental needs of food, shelter, clothing and education.
The number of women who are still stuck in absolute poverty is slightly higher than the number of men at 9,404,839 while the number of men still stuck in poverty is 9,246,736.
Whereas the desirable number of people running away from poverty is supposed to be 3.7 People per minute in order to meet the United Nations’ Sustainable Development Goals, the current rate is disappointing with more people falling into poverty in Uganda compared to the number of people running away from poverty which has put Uganda’s poverty escape rate in negatives putting Uganda on the list of countries that are already off track of the SDGs.
The global number of people who are still stack in extreme poverty is at 743,072,000 with over 90% of these in Africa, Latin America and South East Asia. India has the highest number of people stuck in poverty at 103M however the number is only 7% of the population and the country has the highest number of people escaping from poverty which makes the country to keep on track of SDGs that are aimed at eradicating poverty in the whole world.
Whereas Uganda ranks as one of the most entrepreneurial countries in the world, poverty levels are still high mainly because of failure to switch from subsistence to commercial methods of agriculture, taxes that discourage startup companies, making 90% of companies failing with in the first 2 years after their start, and also difficulty in doing business where Uganda ranks lower than that of neighboring countries Rwanda and Kenya which scares away some investors.
World Report Clock is an online database kept and managed by World Data Lab a not for profit organization based in Australia.