10 Worlds Poorest Countries: Bangladesh, Pakistan Absent From The List; India's Ally Ranks... Among The Poorest Nations
1 / 11
A report in Forbes India published a list of the world's ten poorest countries, with eight of them located in Africa. The report in Forbes India mentions that the list includes poorest countries in the world in 2025 by GDP per capita PPP as estimated by International Monetary Fund (IMF) as of January 16, 2025. The ranking highlights nations struggling with severe poverty, placing Madagascar, an island nation with strong ties to India, in the 10th position. Notably, despite their economic struggles, Pakistan and Bangladesh do not appear on the list. South Sudan
2 / 11
As per Forbes, the world's youngest country also bears the unfortunate title of having the lowest GDP per capita. This small East African nation, which gained independence in 2011, has a total GDP of $29.99 billion, supporting a population of 11.1 million (1.1 crore) people. Burundi
3 / 11
Burundi, a small landlocked country in East Africa, is ranked as the world's second poorest nation, with a total GDP of $2.15 billion and a population of 13,459,236. Experts cite the country's fast-growing population and reliance on agriculture as major contributors to its economic struggles. Central African Republic (CAR)
4 / 11
The Central African Republic, with a total GDP of $3.03 billion and a population of 5,849,358, ranks as the third poorest country in the world. Despite its abundant reserves of gold, oil, uranium, and diamonds, ongoing political instability and armed conflict have left it in a state of crisis, with 80 percent of its population living below the poverty line. Malawi
5 / 11
Malawi, a southeastern African nation renowned for its stunning landscapes, ranks as the world's fourth poorest country. With a GDP of $10.78 billion and a population of 21,390,465, its heavy dependence on rain-fed agriculture makes it highly susceptible to climate change and market fluctuations, contributing significantly to its poverty. Mozambique
6 / 11
Mozambique, a sparsely populated nation in East Africa, ranks as the world's fifth poorest country. Despite its wealth of natural resources, the country has been severely impacted by terrorism, gang violence, natural disasters, disease, rapid population growth, low agricultural productivity, and economic inequality. A former Portuguese colony, Mozambique has a GDP of $24.55 billion and a population of 34,497,736. Somalia
7 / 11
Somalia, one of Africa's most violence-stricken nations and infamous for piracy, ranks as the world's sixth poorest country. With a GDP of $13.89 billion and a population of 19,009,151, Somalia has been severely affected by a prolonged civil war, resulting in state collapse, economic downfall, and immense human suffering. Democratic Republic of the Congo (DRC)
8 / 11
The Democratic Republic of the Congo, the largest nation in Sub-Saharan Africa, ranks as the world's seventh poorest country. With a total GDP of $79.24 billion and a population of 104,354,615, the country, despite its abundant cobalt and copper resources, faces a severe economic crisis. Nearly 62 percent of its population survives on less than ₹180 per day, significantly below the global poverty threshold. Liberia
9 / 11
Liberia, a West African nation with a population of 5,492,486, ranks as the world's eighth poorest country, with a total GDP of just $5.05 billion. Experts attribute its persistent poverty to violent conflicts, including a brutal civil war, as well as outbreaks like Ebola. Yemen
10 / 11
Yemen, a close ally of Iran, ranks as the world's ninth poorest country, with a GDP of $16.22 billion and a population of approximately 34.4 million. Years of civil war and political instability have crippled its economy, causing widespread devastation. The conflict has displaced millions internally, destroyed infrastructure, and severely disrupted agriculture, leading to shortages of essential resources like food, water, and medicine. As a result, millions depend on humanitarian aid from organizations such as the United Nations for survival. Madagascar
11 / 11
According to TOI, Madagascar, an island nation and a key ally of India in the strategic Indian Ocean region, ranks as the world's 10th poorest country. With a GDP of $18.1 billion and a population of 30.3 million, its economy, largely reliant on tourism and mining, struggles despite its rich natural resources. A former French colony, Madagascar gained independence in 1960.
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India.com
5 hours ago
- India.com
10 Worlds Poorest Countries: Bangladesh, Pakistan Absent From The List; India's Ally Ranks... Among The Poorest Nations
photoDetails english 2945991 Updated:Aug 14, 2025, 05:21 PM IST 10 Poorest Countries In The World 1 / 11 A report in Forbes India published a list of the world's ten poorest countries, with eight of them located in Africa. The report in Forbes India mentions that the list includes poorest countries in the world in 2025 by GDP per capita PPP as estimated by International Monetary Fund (IMF) as of January 16, 2025. The ranking highlights nations struggling with severe poverty, placing Madagascar, an island nation with strong ties to India, in the 10th position. Notably, despite their economic struggles, Pakistan and Bangladesh do not appear on the list. South Sudan 2 / 11 As per Forbes, the world's youngest country also bears the unfortunate title of having the lowest GDP per capita. This small East African nation, which gained independence in 2011, has a total GDP of $29.99 billion, supporting a population of 11.1 million (1.1 crore) people. Burundi 3 / 11 Burundi, a small landlocked country in East Africa, is ranked as the world's second poorest nation, with a total GDP of $2.15 billion and a population of 13,459,236. Experts cite the country's fast-growing population and reliance on agriculture as major contributors to its economic struggles. Central African Republic (CAR) 4 / 11 The Central African Republic, with a total GDP of $3.03 billion and a population of 5,849,358, ranks as the third poorest country in the world. Despite its abundant reserves of gold, oil, uranium, and diamonds, ongoing political instability and armed conflict have left it in a state of crisis, with 80 percent of its population living below the poverty line. Malawi 5 / 11 Malawi, a southeastern African nation renowned for its stunning landscapes, ranks as the world's fourth poorest country. With a GDP of $10.78 billion and a population of 21,390,465, its heavy dependence on rain-fed agriculture makes it highly susceptible to climate change and market fluctuations, contributing significantly to its poverty. Mozambique 6 / 11 Mozambique, a sparsely populated nation in East Africa, ranks as the world's fifth poorest country. Despite its wealth of natural resources, the country has been severely impacted by terrorism, gang violence, natural disasters, disease, rapid population growth, low agricultural productivity, and economic inequality. A former Portuguese colony, Mozambique has a GDP of $24.55 billion and a population of 34,497,736. Somalia 7 / 11 Somalia, one of Africa's most violence-stricken nations and infamous for piracy, ranks as the world's sixth poorest country. With a GDP of $13.89 billion and a population of 19,009,151, Somalia has been severely affected by a prolonged civil war, resulting in state collapse, economic downfall, and immense human suffering. Democratic Republic of the Congo (DRC) 8 / 11 The Democratic Republic of the Congo, the largest nation in Sub-Saharan Africa, ranks as the world's seventh poorest country. With a total GDP of $79.24 billion and a population of 104,354,615, the country, despite its abundant cobalt and copper resources, faces a severe economic crisis. Nearly 62 percent of its population survives on less than ₹180 per day, significantly below the global poverty threshold. Liberia 9 / 11 Liberia, a West African nation with a population of 5,492,486, ranks as the world's eighth poorest country, with a total GDP of just $5.05 billion. Experts attribute its persistent poverty to violent conflicts, including a brutal civil war, as well as outbreaks like Ebola. Yemen 10 / 11 Yemen, a close ally of Iran, ranks as the world's ninth poorest country, with a GDP of $16.22 billion and a population of approximately 34.4 million. Years of civil war and political instability have crippled its economy, causing widespread devastation. The conflict has displaced millions internally, destroyed infrastructure, and severely disrupted agriculture, leading to shortages of essential resources like food, water, and medicine. As a result, millions depend on humanitarian aid from organizations such as the United Nations for survival. Madagascar 11 / 11 According to TOI, Madagascar, an island nation and a key ally of India in the strategic Indian Ocean region, ranks as the world's 10th poorest country. With a GDP of $18.1 billion and a population of 30.3 million, its economy, largely reliant on tourism and mining, struggles despite its rich natural resources. A former French colony, Madagascar gained independence in 1960.
Mint
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- Mint
Standard Bank Profit at Record as Fees Beat Soft Loan Growth
(Bloomberg) -- Standard Bank Group Ltd., Africa's biggest lender by assets, reported first-half profit climbed to a record as fee growth and trading revenue helped offset a slowdown in interest income. Headline earnings grew 8% to 23.8 billion rand ($1.35 billion), the Johannesburg-based lender said in a statement on Thursday. Net income available to shareholders increased 11% to 23.8 billion rand, while the lender's return on equity climbed to 19.1% Standard Bank's shares surged as much as 6% by 10 a.m. in Johannesburg to an intraday record. The stock is now up 15% since the start of the year. The lender, backed by Industrial & Commercial Bank of China Ltd., has seen its business in Africa grow as it increased deposits and added customers. Angola, Ghana, Kenya, Mauritius, Mozambique and Nigeria are among Standard Bank's top contributors. Net fee and commission revenue at the bank jumped 12%, while net interest income rose 2% as lower average interest rates compressed loan margins. Headline earnings at the bank's South African operations climbed 14%, amid growth in active business clients that was underpinned by an expanding transactional and merchant account base. Headline earnings at the bank's rest-of-Africa operations climbed 8%. The unit now makes up 41% of the bank's total earnings, while it's South Africa operations account for 49%. Credit impairment climbed 2% to 8.14 billion rand in the period, amid sovereign credit risk deterioration at some of the bank's African operations, particularly Mozambique. 'Subject to developments, this may give rise to additional impairment charges in the second half of the year,' the lender said in a statement. The rise in bad debts resulted in the lender's credit loss ratio widening marginally to 0.93%, within the board approved target of 70 basis points to 100 basis points. The bank reported a so-called common-equity tier 1 ratio of 13.2%, surpassing the 12.5% board approved target. It's exceeded this range since 2021. Since 2022, the group has cumulatively mobilized more than 230 billion rand in sustainable finance since 2022, with 53 billion rand mobilized in the first half of 2025. The lender plans 450 billion rand in green loans by 2028. Standard Bank declared an interim dividend of 8.17 rand per share, surpassing median analyst estimates of 7.72 rand. (Updates with South Africa performance in fourth paragraph, credit impairments in fifth paragraph.) More stories like this are available on
The Hindu
21 hours ago
- The Hindu
Africa is challenging China's mining hegemony
Over the past two decades, China has entrenched itself as a dominant actor in Africa's mining sector. But signs are mounting that the tide is beginning to turn. A new wave of resistance, driven by increased scrutiny from African governments as well as civil society activism, is starting to challenge China's long-standing dominance in Africa's mining industry. Chinese firms have often failed to deliver promised skills transfer or infrastructure. Consequently, African nations are growingly asserting their rights to value-added development. The old model of raw resource extraction in exchange for infrastructure or investments is no longer tenable in a region demanding agency, accountability, and economic sovereignty. No longer passive partners Africa is home to some of the world's richest reserves of critical minerals. The Democratic Republic of Congo (DRC) alone produces 80% of the world's cobalt, a mineral indispensable for rechargeable batteries. China controls around 80% of that output through long-standing agreements such as the Sino Congolaise des Mines (Sicomines) deal, which granted Chinese firms mining rights in exchange for infrastructure projects. However, the benefits to local Congolese have been disproportionate to the mineral wealth extracted. Congo's cobalt ban: Impact on global market explained According to the civil society coalition Congo Is Not for Sale (CNPAV), tax exemptions granted to Chinese companies cost the DRC approximately $132 million in 2024 alone. These losses have spurred public outrage, and citizens have called for a full review of the Sicomines deal. Further, since the payments are tied to market prices, there is a real risk that the country could receive little or no infrastructure investment during downturns. Faced with mounting criticism, the Congolese government was forced to renegotiate the existing contracts with China, especially in light of fluctuating copper prices. The DRC reportedly plans to increase its stake in a joint venture with Chinese firms Sinohydro and China Railway Group, raising its ownership from 32% to 70%. Last year, after Congo's state-owned miner, Gecamines, voiced its opposition, the sale of Trafigura-backed miner Chemaf Resources to China's Norin Mining was cancelled. In Namibia, China's Xinfeng Investments has been accused of acquiring its lithium mine through a bribe of N$ 50 million. Over the years, Xinfeng has exported thousands of tonnes of raw lithium ore to China but has not constructed the promised processing facilities. Workers at the company have also reported hazardous working conditions and substandard housing. In 2023, China's Zhejiang Huayou Cobalt invested $300 million to construct a lithium processing plant in Zimbabwe. Most benefits will likely flow back to China unless robust regulatory frameworks and local capacity-building initiatives are implemented. China's dominance has also triggered environmental and social concerns. In Hwange National Park in Zimbabwe, Chinese firm Sunny Yi Feng's application for coal mining permits has been blocked by environmental authorities. In Zambia, a catastrophic acid spill from a Chinese-owned copper mine contaminated a significant tributary of the Kafue River, one of the country's most critical water sources. In Cameroon, resistance is growing against the massive Lobé-Kribi Iron Ore Project led by Sinosteel Cam S.A., a subsidiary of China's Sinosteel Corporation. Local NGOs have warned that the project threatens ecosystems, public health, and cultural heritage. Many community members see the project as a fait accompli, pushed through without adequate consultation or benefit-sharing. Across Africa, Beijing's once-unquestioned mining dominance is now being scrutinised more closely, with a growing demand for fairer, more transparent partnerships. This signals a newfound assertiveness by African governments, who are no longer content to act as passive partners in resource exploitation. Policy changes Meanwhile, strategic policy changes are also occurring. In 2022, Zimbabwe banned the export of unprocessed lithium to force investors to build local processing plants. In 2023, Namibia implemented a similar export ban on unprocessed lithium and other critical minerals. These countries aim to retain more value from their mineral wealth by requiring local beneficiation. Similar stories are unfolding across the continent. Still, policy alone is not enough. These export bans must match broader economic strategies to ensure local participation in processing and transformation. Otherwise, they risk simply shifting exploitation from one form to another. African leaders must ensure that domestic processing leads to fundamental economic transformation, not just a new phase of elite capture. China may still be Africa's largest mining partner, but the future of its dominance is no longer guaranteed. Moreover, a clear shift is underway, where African nations are reasserting sovereignty over their natural resources. By challenging opaque contracts, enforcing environmental standards, and demanding value addition, they are redrawing the terms of engagement. If these trends continue, African countries are poised to reshape the global supply chain for minerals and their role within it, moving from exporters of raw materials to integral partners in the emerging green economy. This change would come at the expense of China's long-standing dominance in the African mining sector. Samir Bhattacharya, Associate Fellow, Observer Research Foundation
