Dear Subscriber,
COVID-19 creeps into Africa: Panic reactions in sight!
The myth that black people cannot be infected by Covid-19 has finally been proved to be baseless. This is because there are now at least 30 cases of the virus in over seven countries and one fatality in Egypt.
SSA is responsible for 2.5% ($2.15trillion in 2018) of global GDP and represents 13.72% of the total population. Luckily, the region has just approximately 0.017% of all the infections. But, the bad news is that with the global economic slowdown, there could be a knock on effect on economic growth in the region. Also, some other activities like the 2020 African CEO forum in Abidjan has just been postponed, the CAF football scheduled for 4th – 25th of April in Cameroon is likely to be cancelled, Air travel has been disrupted and general trading activities slowed down.
African countries in Partnership – Unity in diversity
To boost continental growth and living standards, most African countries have come to understand that partnership works. Kenya and the US are exploring ways to maximize the benefits of the African Growth and Opportunity Act (AGOA). South Africa and Zimbabwe have signed an agreement to a one-border post by 2024. This is to encourage trade and movement between both countries. Somalia is also collaborating with the United Nations Culture and Education Agency to improve its educational sector. To crown it all, African countries are in harmony to address climate change by creating policies that support the “green” initiative.
This edition of the Afriscope is coming at a time of market uncertainties, which could weigh heavily on the economic performance of the SSA region. The adequate response to the Covid-19 pandemic will determine the rate of recovery from the current regional slow down and economic difficulties.
The publication sheds more light on these and other issues.
Do enjoy your read!
