Working Towards Poverty Alleviation
- 29 Apr 2021
The concentration of wealthy people in Africa is greatest in the West African region. On the other hand, 30% of West Africa’s population lives on under $1.90 a day. In Africa’s biggest economy – Nigeria, the richest men have a combined wealth of $29.9 billion, which was more than the country’s complete nation budget for 2017. In comparison, 60% of the country’s population lives on less than $1.25 a day, which is the absolute poverty threshold.
These statistics paint a picture of countries that have wealth, but the distribution is the concern. To top it all, West African countries tend to lose an estimated $9.6 billion each year! These losses are incurred due to corporate tax incentives offered to all multinational companies.
The governments are trying their best to uplift the economies and the weaker sections of society. Having a comprehensive database of all the country’s citizens may help governments collect appropriate taxes, distribute wealth and help the national growth.
To alleviate poverty, governments need to follow a two-pronged approach. In the first step, the government needs to build a strong tax database and digitize its taxation process. Digitized taxation will help governments streamline their tax collection. The streamlined tax collection will give government insights into the tax losses, gains and how they can improve their collection.
The second step to the approach is to build a comprehensive citizen database. The database has information about the citizens’ education status, skill status, and health conditions to ensure sustainable growth. The database will lend government insights into the needs of citizens and ensure better delivery for them.
Poverty is a persisting issue in the West African region. The governments are making efforts to rectify the situation for a long time. Digitization might be the best path the government needs to take to enrich the economy and serve the citizens of the country.
Digiflynt helps governments endeavor to build robust databases and move the country forward towards a brighter future. We help governments in gaining insights and serving their citizens better. Strengthening of society and wholesome development of youth through education and job opportunity will take the country forward.