Institutional quality and financial stability are essential for achieving sustainable growth. It is safe to say that Sub-Saharan African countries have struggled to achieve sustainable development goals, despite cyclical institutional inconsistencies and financial instability. This study not only investigates the role of institutional quality and financial stability in achieving SDG 1 but also the impact of factors such as colonial footprint and the capability theory on the progress made in eradicating poverty. The study employed panel data from 23 SSA countries from 2002 to 2020 which was analyzed using the two-step system GMM estimator. The result of the study indicates that in comparison, institutional quality has a far greater impact on reducing poverty than institutional quality. Additionally, poverty levels are exacerbated by hunger levels and inflation, while levels of well-being lower it. Furthermore, the result indicates that colonial footprints play a key role. As a result, the impact of each regressor is either higher or lower in francophone nations than in anglophone ones. The result reveals also that hunger affects poverty through well-being, confirming the assertion of Sen (1999). In order to support the achievement of SDGs, the study suggests that governments should make efforts to strengthen their institutions as they form the bedrock on which other macroeconomics indicators can as well as implement policies to eradicate food insecurity and improve financial development, which can guarantee a stable financial system.