News & Analysis: SMEs

East Africa: COVID-19 invades banks, slows down earnings

“Banks’ performance was largely impacted by increased provision on loans and advances in the wake of increased risk of credit default associated with the COVID-19 pandemic.”

via The East African

Ghana: Banks’ COVID-19 moratorium for businesses should be extended – Fidelity Bank MD

“Managing Director of Fidelity Bank Mr. Opuni says that even though the economy seems to be picking up the pieces together, it has still not resulted in a complete recovery for businesses, hence, banks should consider extending the six-month moratorium they extended to these enterprises.”

via BFT Online

Universal basic income helped Kenyans weather COVID-19 – but it’s not a silver bullet

“The ability to access income supplements clearly helped people weather the pandemic. It also leads to people taking risks, but was not able to protect the income from these investments during the crisis. In a pandemic, it may be important to protect these incomes as well, so perhaps larger one-time cash transfers may also be needed.”

via The Conversation

Restrictions in trade to contain COVID-19 have been devastating for Africa’s urban poor

“In Africa, there’s a growing body of evidence showing that firms – from large to very small – have been severely affected by restrictions in the movement of goods and people. For many this means not only losing a livelihood, but a direct impact on their ability to meet basic needs.”

via The Conversation

Entrepreneurs strike COVID-19 gold

“A handful of companies, especially in the tech, online services and logistics field, were able to weather the COVID-19 storm with a little bit of flair through innovative and sometimes crazy changes in how their businesses ran, while other people started new businesses.”

via Mail & Guardian

World Bank Helps Mozambique Mitigate Impact of COVID-19 with a New $100 Million Grant

“The financing will help mitigate the adverse impacts of the pandemic on people’s lives and livelihoods by supporting the immediate COVID-19 response and supporting businesses and reforms in view of improved fiscal sustainability.”

via World Bank

COVID-19 and informality in Sub-Saharan Africa: Containing an economic crisis

“Containment measures prevent informal workers from sustaining an income. Policies that support the informal sector are required to prevent an economic crisis.”

via International Growth Centre

Firms in Ethiopia’s industrial parks

“In line with the broader impacts of COVID-19 on industries and value chains around the world, production in Ethiopia’s industrial parks has been
heavily affected.”

via International Growth Centre

The Fiscal Response to COVID-19 from African Governments

“We examine the different fiscal stimulus measures African governments have deployed in an effort to combat the economic repercussions of this global pandemic.”

via COVID-19 Africa Watch

Supporting Africa’s Small Businesses and Tackling Debt Sustainability during COVID-19: An Interview with Acha Leke

COVID-19 Africa Watch talks to McKinsey’s Chairman for the Africa region, Acha Leke, about government responses to COVID-19, the support needed for SMEs, and debt sustainability.

via COVID-19 Africa Watch