A UN-backed conference raised US$2.4 billion Wednesday to prevent famine in the Horn of Africa, which is reeling from its worst drought in decades as global temperatures rise.

The money will provide life-saving assistance for nearly 32 million people across Ethiopia, Kenya and Somalia, the world body's humanitarian agency OCHA said in a statement.

"Famine has been averted, thanks in part to the tremendous efforts of local communities, humanitarian organisations and authorities, as well as the support of donors," OCHA said.

But the sum is considerably less than the US$7 billion the United Nations says is needed to provide help to people affected by drought and conflict in the region.

"The emergency is far from over, and additional resources are urgently required to prevent a return to the worst-case scenario," OCHA added.

Since late 2020, countries in the Horn of Africa – Djibouti, Ethiopia, Eritrea, Kenya, Somalia, South Sudan and Sudan – have been suffering the region's worst drought in 40 years.

Five failed rainy seasons have left millions of people in need, decimated crops and killed millions of livestock.

More than 23.5 million people are enduring high levels of acute food insecurity in Ethiopia, Kenya and Somalia, according to OCHA.

In Somalia alone, which is also in the throes of an Islamist insurgency, the number of people displaced from their homes now stands at 3.8 million, with 6.7 million people struggling to find food, according to figures from the UN and the Norwegian Refugee Council.

More than half a million children are severely malnourished, they added. (AFP)