INTO AFRICA May-June 2020 Edition – COVID-19 Pandemic: Africa’s Share

LAGOS (Capital Markets in Africa) – Welcome to the May/June 2020 edition of INTO AFRICA, a publication written by the professionals, for professionals, investors, policymakers … We Advance and provide fresh insights into Africa’s emerging markets through renowned thought leadership and peer-to-peer knowledge sharing. This edition is titled: COVID-19 Pandemic: Africa’s Share.

The Coronavirus disease 2019 (COVID-19), caused by SARS-CoV-2 was declared a pandemic by the World Health Organization (WHO) on March 11, 2020. The disease that first manifested in Wuhan China in December 2019, spread across the globe and fast became an emergency with a massive impact on the world population and economy. According to the WHO, as of June 30, 2020, there were 10,589,199 confirmed COVID-19 cases of which 513,211 had died representing a fatality rate of 4.8 percent. The number of deaths recorded in Africa since the first person tested positive for the coronavirus in February remains low, at just over 10,406 deaths (418,211 confirmed cases). In response to the fast-spreading nature of the disease, amidst no known cure or vaccine, governments across the world instituted a few measures to contain the spread of the pandemic including total lockdowns and travel restrictions. This has forced firms to switch their focus to critical priorities like maintaining their operations, managing volatility, and servicing customers.

The sharp global economic downturn brought about by the Covid-19 pandemic will severely affect every region in the world and Africa will not be spared. African countries will be affected through numerous channels, most notably through the trade and tourism channels. Nationwide as well as partial lockdowns will also weigh heavily on consumption expenditure. The recovery for most countries on the continent will be a slow and gradual process. Recently, many countries are now moving to ease restrictions, most remain cautious in the face of so many unknowns about the pandemic. This uncertainty has forced investors and financiers to re-strategies, re-prioritise, and react quickly to a new and evolving environment.

PIETER DU PREEZ (Senior Economist, NKC African Economics South Africa) opens the edition with a stimulating write-up titled “COVID-19 Pandemic Impacts on Africa’s Economic Prospects”, where he projected African economic contraction of 6.9% for 2020. TIAGO DIONISIO (Chief Economist, Eaglestone Advisory), MARYANNES NGANGA (Assistant Investment Analyst, Cytonn Investments Kenya), and LYDIA RANGAPANAIKEN (Sub-Saharan Economist, FCMB Bank (UK) Limited) look at the COVID-19 pandemic effects on Angola and Mozambique, Kenya and Nigeria, respectively.

PLEASE CLICK TO DOWNLOAD – INTO AFRICA PUBLICATION: MAY–JUNE 2020 EDITION.