News & Analysis: SMEs

COVID-19 in Tanzania: Is business as usual response enough?

“Due to the pandemic, the World Bank projects that economic growth in Tanzania will drop sharply to 2.5% in 2020 from a much higher growth rate of 6.9% that the government announced in 2019. Much of this growth was driven by strong public investment and export earnings. The government’s firm focus and commitment during this pandemic have been to avoid a complete halt of economic activities.”

via International Growth Centre

Buhari’s COVID-19 economic plan: old wine in new wineskins

“There are two main pillars to the economic sustainability plan. The first is job creation and the second an infusion of cash. These will be achieved through targeted investments in agriculture and agro-processing, manufacturing, renewable energy, housing, information technology. The proposal also included cash transfers as well as ‘survival funds’ for medium and small scale enterprises.”

via The Africa Report

IFC Supports Nigeria’s FCMB to Finance SMEs Facing COVID-19 Related Challenges

“IFC, a member of the World Bank Group, today announced a $50 million loan to Nigeria’s First City Monument Bank (FCMB) Limited to help it expand lending to small and medium enterprises (SMEs) so they can sustain business activities disrupted by the COVID-19 pandemic.”

via IFC

Coronavirus: How Africa’s supply chains are evolving

“The coronavirus lockdown measures imposed by governments around the world have caused severe disruption to supply chains.”

via BBC

Liberia’s urban poor are often overlooked but especially vulnerable to crises like COVID-19

“While the macroeconomic situation is set to affect prosperity at all levels of society, poor urban households participating in the informal economy are likely to be hit the hardest, with immediate concerns surrounding their ability to provide for themselves.”

via Grow Liberia

Reviving Botswana’s Tourism Industry after COVID-19

“The Botswana tourism sector cannot avoid the threats posed by the current coronavirus disease (COVID-19). Considering that tourism relies on physical interaction between people, it does not come as a surprise that the sector has borne the brunt of the global pandemic.”

via Cairo Review of Global Affairs

Coca-Cola Foundation commit $17million across Africa in response to COVID-19

“Across Africa and in partnership with NGOs, Coca-Cola in Africa, and its bottling partners and The Coca-Cola Foundation, have been deploying a range of resources, including capabilities, funds and products to support governments, communities and local economies in their urgent efforts to contain the spread and impact of the Coronavirus since its outbreak on the continent.”

via Sierra Leone Telegraph

Madagascar offers $73 million of loans to help small businesses through pandemic

“Madagascar has announced a stimulus package offering close to a million small businesses secure loans at below market rates to help weather the impact of the coronavirus outbreak, the government said.”

via Reuters

COVID-19 in African Cities: Impacts, Responses and Policies

“Globally, urban areas are the epicenters of the epidemic accounting for the vast majority of the confirmed COVID-19 cases. This report looks at the impacts, responses and policy pathways related to COVID 19 in the context of cities in Africa.”

via UNECA

Across Sectors: Michael Milken’s Conversation with Mastercard Foundation’s Reeta Roy

“We have to remember in all of this that in Africa the economy is also a patient. Most of the economies of many of these countries are informal: mom‐and‐pop shops, micro and small businesses that are starving for capital. We worked with a number of our partners across multiple countries to put in place access to finance for micro and small businesses.”

via Milken Institute