Author: Njenga Hakeenah

With the covid-19 coronavirus pandemic slowing down the global economy’s growth, Africa could just be in time for a revolution that could help it recover faster than the rest of the world.

For starters, the continent is advantaged by having fewer infections which could make it possible for Africa to successfully curtail the spread of the coronavirus if strict measures are taken. While this move may not be uniformly undertaken continent-wide, the ravages of the Ebola virus have prepared many to deal with the pandemic. From years of suffering from viral infections, the continent is well placed to stop the virus in its tracks.

But this comes at a cost since governments should be willing to spend on their people to ensure that the majority who live on daily casual wages are provided for to help them stay in during lockdowns.

Coronavirus: African leaders stuck with neglected, outdated healthcare systems

On March 13, 2020, the Economic Commission for Africa (ECA) warned that the covid-19 coronavirus crisis could seriously dent Africa’s already stagnant growth.

Oil-exporting nations could lose up to US$ 65 billion in revenues as crude oil prices continue to tumble. Having already strongly hit Africa’s major trading partner, China, covid-19 was inevitably impacting Africa’s trade.

ECA Executive Secretary, Vera Songwe, said: “Africa may lose half of its GDP with growth falling from 3.2 per cent to about 2 per cent due to a number of reasons which include the disruption of global supply chains.”

She added that the continent’s interconnectedness to affected economies of the European Union, China and the United States was causing ripple effects.

US$3-billion facility

Songwe said that Africa would need up to US$ 10.6 billion in unanticipated increases in health spending to curtail the virus from spreading, while on the other hand revenue losses could …

Africa is prone to hunger crises every so often when disasters strike and with the covid-19 coronavirus pandemic, it may not be different.

In East Africa, for instance, the pandemic hit when farmers are preparing their lands for planting making it a challenge for the region that is also battling a desert locust outbreak.

So, what does this mean to the region which has suffered the brunt of inadequate food supplies which keep dwindling by the day?

For starters, the UN-FAO has warned that the locust outbreak in East Africa is the worst to strike Ethiopia and Somalia for 25 years — for Kenya, in 70 years. Djibouti, Eritrea and Uganda have also been affected.

Coronavirus: African leaders stuck with neglected, outdated healthcare systems

“The situation is especially extremely alarming in East Africa, where 20 million people are already considered acutely food insecure. There, the swarms have laid eggs and …

The International Labour Organisation (ILO) says that almost 25 million jobs could be lost worldwide as a result of covid-19.

Globally, the coronavirus pandemic could cause an economic and labour crisis where unemployment could range between 5.3 million in a “low” scenario and 24.7 million in a “high” scenario from a base level of 188 million in 2019.

In comparison to the 2008-9 global financial crisis, the effect on job losses could now be higher by about three million jobs from the 22 million registered in 2008/9.

How is Africa suffering from US-China trade wars?

During the 2008/9 crisis, Africa largely weathered the impact of the crisis but suffered lower commodity prices, trade volumes, remittances, and foreign direct investment. The financial contagion hit both developed and developing countries by shaving off about  5–7 per cent of GDP which was worth two to three years of growth in rich countries. In …

Benin has transitioned its business registration processes to 100% digital, setting up an efficient new online single window housing all regulatory processes needed to open a business in record time.

With this new step, Benin joins an elite group of six countries including Denmark, Kenya, New Zealand, Oman and Switzerland which offer their entrepreneurs 100% online business registration.

Also, with this new single window, Benin gets a top score on the Global Enterprise Registration, an index of countries’ business registrations systems.

Benin’s critical move comes ahead of the spike in global infections from the new coronavirus, covid-19, means that businesspeople – in Benin or abroad – can now start a business in two hours and from the comfort and safety of the office or home.

Coronavirus: African leaders stuck with neglected, outdated healthcare systems

The Government of Benin’s new online platform, MonEntreprise.bj, will help businesses launch efficiently and …

For decades, African leaders have remained detached from the realities of life for the majority leading to neglect of key and essential infrastructure like healthcare.

With the covid-19 coronavirus outbreak, the systems that have been neglected for as long are starting to show signs of breaking even with the enormity of the virus still way below what some individual countries have suffered.

Most of these leaders have always sought treatment abroad, even for basic illnesses and conditions that can be taken care of at home. But with the distrust in the local systems, they have chosen to always fly out and then come back once they have stabilised to continue with the same cycle of plunder and ignorance of what needs to be done.

See: Coronavirus shakes economies, world forced to change perspective on Africa

The latest cases have been those of Muhammadu Buhari of Nigeria who spent the better …

The airline business is becoming messier by the day as the covid-19 coronavirus continues disrupting business in a way never seen before.

From manufacturing to travel, entertainment to medicine, all sectors of the economy have been jolted by the virus whose epicentre is Wuhan, China. The disease, “a pneumonia of unknown cause detected in Wuhan, China,” was first reported to the WHO Country Office in China on 31 December 2019. From then, it has been a rollercoaster.

The real magnitude of the virus is starting to manifest with deaths, infections and isolations becoming the order of the day worldwide. While the disease in itself is not a death sentence, the fear that people may contract it en masse burdening health infrastructure in several countries has led to people isolating themselves, and observation, in what has now become the norm- social distancing.

See: Coronavirus shakes economies, world forced to change perspective

In 2017, 11 of the 43 major infrastructure projects in East Africa were in Kenya and while these numbers may have shifted, the dynamics have not changed much for the region.

For the past 20 years, East Africa has experienced an unprecedented real estate boom which has transformed the skylines changing the building landscape and inventory.

While the demand continues, especially for affordable housing targeting the low-income bracket, the shopping malls and office spaces are outpacing demand leading to declining returns in the sector for some.

The East African region still has a high and unmet demand for warehouses, hotels and student hostels as more and more students continue seeking education far from home.

Read: Intra-regional trade could create 2 million new jobs for East Africa

Over the course of time, construction has primarily focused on high-end assets due to the belief that they delivered higher margins and higher returns …

At least 27 African states have so far been affected by the Covid-19 coronavirus with nearly 350 people diagnosed with the virus across the continent.

As the virus continues on its upward trajectory in Africa, concerted efforts are seeking to arrest its spread with support coming from different entities. The latest announcement of support is by Alibaba Founder Jack Ma who has pledged to donate medical supplies including masks, testing kits and medical use protective suits and face shields to all the 54 African countries.

In the statement posted on his Twitter account, Ma said that Africa can be one step ahead of the coronavirus which has already been classified a pandemic by the WHO.

Read: Coronavirus shakes economies, world forced to change perspective on Africa

Through his Jack Ma Foundation and Alibaba Foundation, Ma has already donated medical supplies to other countries hardest hit by the virus, including Japan, …

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Economies around the world are taking a beating from Corvid-19 as aspects of their production and consumption take a nosedive.

With countries now dependent on each other for trade, sources of raw materials and labour, the coronavirus is bringing an end the approach to doing business globally as we know it. With much more connections through travel, the virus has found a way of stymying growth in several countries- including China, the epicentre of the outbreak- and many others which are still finding ways and means of addressing the challenge.

The worst-hit at this stage are those that depend on goods and services from China.

See: Intra-regional trade could create 2 million new jobs for East Africa

And while Africa is still largely safe from the ravages of the virus, many countries are already feeling the heat since they cannot procure goods from China following the lockdown and …