“As COVID-19 races its way across Africa, there are two stories happening at once. The first is of governments using their armies and militarized police to beat, threaten, and shoot their way to public health…The second is of communities knitting together their meager resources to fill the gap of failed services and absent states.”
“Nigeria needs at least N10.1 trillion worth of interventions from the government to address the fallout of the coronavirus pandemic.”
“Banks should brace for substantial credit losses, increased cybersecurity challenges and increased cost in keeping employees safe as the novel coronavirus (COVID-19) continues to wreak havoc on all sectors of the economy, a report by PricewaterhouseCoopers (PwC) has said.”
“Fixing the economic impact of the COVID-19 pandemic could cost the Government over Rwf800 billion over two fiscal years. The spending would propel economic growth rate to an average of 8 per cent by 2022. “
“Following the publication of the Fitch rating report in which Seychelles has dropped two levels, from a BB rating with stable outlook to B+ with a stable outlook, Minister for Finance, Trade, Investment and Economic Planning Maurice Loustau-Lalanne yesterday said that even much worse was expected, on account of the economic implications of the COVID-19 pandemic on the domestic economy.”
Tanzania may have paused its count of confirmed COVID-19 cases. The health system in Khartoum is collapsing as Sudan’s cases spike. And more from across the continent.
“Early research indicates that many African economies are significantly impacted and that poorer households are struggling.”
“The country’s largest employer and livelihood for many, the informal sector, has seen its lowest contribution to the economy since 2014, despite recording growth rate which more than doubled the 2018 figure.”
“The scale of the looming financial crisis caused by the coronavirus pandemic has been revealed by Minister of Finance Mrs. Zainab Ahmed.The Federal Government, the states and the local government councils have lost massive projected revenue which will affect their plans for this year.”
“The proposals for a new SDR allocation range between the equivalent of $500 billion to almost $4 trillion, with some consensus emerging around $1 trillion.”
A hub for information, analysis, and the global response to COVID-19’s impact on Africa