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Browsing: Africa’s economic recovery
The lockdown measures no doubt worked in saving lives but brought a recession to the region due to the dramatic impact on local economies. The SSA which was experiencing the first recession in 25 years has been hit hard and the journey ahead remains difficult because of the lack of vaccines and fiscal stimulus which are a threat to Africa’s economic rebound.
In 2020, Sub-Saharan Africa’s economy shrunk by an extraordinary –1.9 per cent which was the worst outcome on record.…
Partners of the Africa Investment Forum said the increased and decisive investment will be the channel for Africa’s economic recovery post-COVID-19.
The partners expressed their confidence in Africa’s potential to recover from the ongoing crises in the economy and health.
“Africa will come out of this pandemic, tough as it is, and will build better and stronger economies. As partners of the Africa Investment Forum, the premier investment platform for Africa, our gaze must be clear; help Africa reboot its economy,” said African Development Bank President Dr Akinwumi Adesina, during a two-day virtual meeting for Africa Investment Forum founding, institutional and knowledge partners.
During the virtual meeting, the Africa Investment Forum revealed 15 projects under its Unified COVID-19 Response identified across five sectors for priority funding consideration. The five sectors include energy, agriculture and agro-processing, health, ICT and telecoms and industrial and trade.
The 15 deals are from the forum’s …