COVID-19 and Africa: Any economic lesson for Africa leaders?

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

Like in many continents, the outbreak of the novel Coronavirus is having a negative impact on African economies, changing the overall economic outlook for countries in the region from that of expansion (earlier expected at the beginning of the year) to a broad-based contraction/slowdown.

However, we believe there are lessons for African leaders to learn from this crisis. Herein, we highlight the critical lesson and recommendations.

One key lesson for Africa is finding a way to reduce its huge dependence on external economies. Although African countries were the last to record rapid cases of COVID-19, globally, the economic impact of the virus transcended the outbreak within African countries.

Clearly, the outbreak of the virus within Asia, Europe, and America exposed the overdependence of African countries on trade as well as financial market flows.

Certainly, the African Continental Free Trade Area (AfCFTA) was designed with the intent to correct this vulnerability.

- Advertisement -

As such, as the restriction on the lockdown is increasingly phased out, our view is that discussion on the implementation of the AfCFTA agreement remains a priority while promoting policies to sustain cross border industrialization of the continent.

Read Also:  9Mobile telecom, former Etisalat unveils its new identity (Logo, Website & Mobile App) - Pictures

United Capital Research

- Advertisement -
COVID-19 and Africa: Any economic lesson for Africa leaders? - Brand SpurCOVID-19 and Africa: Any economic lesson for Africa leaders? - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

2 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

COVID-19 and Africa: Any economic lesson for Africa leaders? - Brand SpurCOVID-19 and Africa: Any economic lesson for Africa leaders? - Brand Spur

Latest News

First Bank Of Nigeria – Mixed Performance In Interest And Non-Interest Income Sources

...Mixed Performance in Interest and Non-Interest Income Sources In line with the industry trends, First Bank of Nigeria Holding Plc...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -COVID-19 and Africa: Any economic lesson for Africa leaders? - Brand SpurCOVID-19 and Africa: Any economic lesson for Africa leaders? - Brand Spur