African banks adopt robust measures against lockdown losses

“Central and commercial banks across Africa are working together to increase liquidity and improve access to finance in an effort to keep the economies within which they operate functioning during the COVID-19 lockdown.”

via African Business Magazine

China-Africa relations enter new era as easy money dries up

“While analysts are in broad agreement that the pandemic will hasten the decline of easy Chinese credit in Africa, there is little consensus around the appropriate timing or structure of Chinese debt relief.”

via African Business Magazine

COVID-19 could accelerate Africa’s digital transformation

“The pandemic has been a tough time for Africa’s online businesses, but in the long-run it may help them find another gear.”

via African Business Magazine

Southern Africa’s tourism industry desperate to reopen

“The coronavirus pandemic has decimated tourism across Southern Africa, dealing a devastating blow to hotels, private lodges and tour guides reliant on luxury vacations and raising questions about whether and how the industry can be quickly and safely reopened.”

via African Business Magazine

COVID-19 sparks digital banking rush in Nigeria

“The increased demand for digital products and services has prompted many banks to invest more in technology to strengthen their digital services.”

via African Business Magazine

Riding the COVID-19 economic storm

“The economic fallout for the continent from COVID-19 is likely to be severe and enduring. This burden falls heavily on countries with a high dependence on commodity exports to China, weak sovereign balance sheets, high debt burdens, and volatile currencies, among other external fragilities.”

via African Business Magazine

Nigerian tailors join PPE rush

“Governor Okezie Ikpeazu provided a grant of N12m ($30,810) to 100 local tailors to start producing masks ahead of a surge in demand, and the State Marketing and Quality Management Agency is working with tailors to ensure they meet pre-approved standards. “

via African Business Magazine

Pandemic highlights importance of AfCFTA

“The African Continental Free Trade Area (AfCFTA) is just the game-changer the continent needs right now. The agreement is a necessary but not exclusive factor in building economic resilience. Africa still exports raw materials and imports finished goods. Trade figures are largely padded with the intra-continental exports of finished goods from other regions.”

via African Business Magazine

Africa and creditors wake up to debt dilemma

“In the tough years ahead, heavy debt burdens could push inflation up and pull growth down. Suppliers sink when the government stops paying its bills, and trade slows with uncertainty. Africa’s debt burden suddenly looms larger.”

via African Business Magazine

A mightier, united Africa will emerge from the coronavirus downturn

“The pandemic has exposed the flaws of the development model that for decades has connected Africa to the global economy exclusively as an importer of manufactured goods and exporter of raw materials and unprocessed natural resources.”

via African Business Magazine