Except perhaps South Africa, credible statistics on the extent of the COVID-19 infection in African countries are lacking. So far, African countries could not sustain two full months of lockdown. Unlike the rest of the developed world, there were no significant palliatives for ordinary citizens, let alone businesses or corporations. While industrialised countries compute their GDP contraction arising from COVID-19 in the range of 10%, virtually all of Africa is faced with the stark reality of an upward of 20% drop in their GDP and a total rollback of economic progress of the past two decades.

Read More