April 3, 2020/United Capital Report

According to data from Africa Centres for Disease Control and Prevention (Africa CDC), the total number of confirmed COVID-19 cases in Africa as at the end of April 1, stood at 6,213 across 49 African countries with 221 deaths and 469 recoveries. Also, regional analysis showed that the highest cases have been recorded in the Northern African region trailed by the Southern and Western regions, respectively.

Notably, in a bid to curtail the virus from spreading further, African leaders have had to implement pre-emptive restrictions on travel and mass gatherings. Specifically, data from the Africa CDC showed that 51 of 55 African countries have implemented some forms of travel restrictions (in and out if the countries), while media reports indicates that up to 10 African countries (inclusive of Nigeria and South Africa) have had to shut down commercial activities in the States that have been hugely impacted by the virus. Elsewhere, monetary authorities across the region have had to rollout an extensive stimulus package to reverse some of the economic damage of the crisis.

Overall, any hope of a strong economic growth in 2020 is now gone as survival becomes the new watchword. Notably, the UN’s Economic Commission for Africa reckons the continent’s average GDP growth rate will fall to 1.8% this year from 3.2%. In our opinion, such projection still looks optimistic from where we stand today as the outbreak is expected to peak around Q2-2020.

Top African Stories

• South Africa’s rand hits new low on bleak economic outlook: South Africa’s rand fell to a new all-time low against the dollar on Thursday, as analysts predicted a steep economic contraction and large budget deficit because of the global coronavirus pandemic . Read more

• Egypt’s health sector races to scale up coronavirus readiness: Egypt has ramped up efforts to fight the coronavirus, ordering manufacturers to channel medical protective equipment to public hospitals and announcing 1 billion Egyptian pounds ($64 million) in extra funding for its health services. Read more

• African governments team up with tech giants to fight coronavirus lies: Governments across Africa are teaming up with technology giants including Facebook and WhatsApp to fight misinformation about coronavirus on social media platforms that could propel the pandemic on a continent with shaky healthcare systems . Read more

• Nigeria tells oil, gas companies to cut staff in pandemic fight: Nigeria’s Department of Petroleum Resources ordered oil and gas companies on Thursday to reduce their workforce and practice social distancing. Read more

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