Browsing: COVID-19 Funding in South Africa

The second-largest economy in the continent—South Africa, is racing to beat the coronavirus global pandemic, as on Tuesday the South African President Cyril Ramaphosa announced a $ 25.3 billion rescue package to cushion the most industrialized nation in the region from the consequences of the pandemic, according to information from Reuters.

As the nation swims in its second recession in two years, the coronavirus (COVID-19) has caused the nation’s economic activities to stop due to mandatory lockdowns to curb the spread of the virus.

South Africa, which has over 3,400 confirmed cases and 58 deaths, will experience a rather bitter toll on her economy as experts forecasted that in the first three-month, growth is expected to contract by 1.5 per cent.

The southern Africa nation has been serious about the pandemic, as it rolled in one of the region’s toughest lockdowns banning anyone but essential workers from leaving home except …