Source: The World Bank Group |

Coronavirus: Africa's Pulse, No. 21, Spring 2020 - An Analysis of Issues Shaping Africa’s Economic Future

Despite a late arrival, the COVID-19 virus has spread rapidly across Sub-Saharan Africa in recent weeks

The COVID-19 pandemic has taken a toll on human life and brought major disruption to economic activity across the world. Despite a late arrival, the COVID-19 virus has spread rapidly across Sub-Saharan Africa in recent weeks. Economic growth in Sub-Saharan Africa is projected to decline from 2.4 percent in 2019…

Source: The World Bank Group |

Coronavirus - Africa: COVID-19 (Coronavirus) drives Sub-Saharan Africa toward First Recession in 25 Years

The analysis shows that COVID-19 will cost the region between $37 billion and $79 billion in output losses for 2020 due to a combination of effects

Growth in Sub-Saharan Africa has been significantly impacted by the ongoing coronavirus outbreak and is forecast to fall sharply from 2.4% in 2019 to -2.1 to -5.1% in 2020, the first recession in the region over the past 25 years, according to the latest Africa’s Pulse, the World Bank’s twice-yearly…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank Group unveils $10 billion Response Facility to curb COVID-19

The Facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution's primary channel for its efforts to address the crisis

The African Development Bank Group (www.AfDB.org) on Wednesday announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic. The Facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution's primary channel for its efforts…

Source: International Monetary Fund (IMF) |

Coronavirus: Morocco Draws on Funds Available under the Precautionary and Liquidity Line to Address COVID-19 Pandemic

The International Monetary Fund (IMF) remains closely engaged with the authorities to help them mitigate the impact of COVID-19 on Morocco’s economy

On April 7, the Moroccan authorities purchased all available resources (about US$ 3 billion) under the Precautionary and Liquidity Line (PLL) arrangement; The authorities will use funds purchased under the PLL to cope with the social and economic impact of COVID-19 and to maintain strong external buffers in a context…

Source: Save the Children |

Coronavirus - Africa: Alarm grows in Africa as continent records its 10,000th case of COVID-19

Children and their families across Africa have already been struggling through a decade of climate shocks and regular food crisis

Some of the most vulnerable children and their families across Africa who depend on the informal economy for their livelihoods are and will increasingly be impacted by measures designed to stop the spread of COVID-19, Save the Children is warning, as the number of people on the continent infected with…

Source: European Investment Bank (EIB) |

Coronavirus - Africa: European Investment Bank (EIB) Group contributes € 5.2 billion to EU response to Covid-19 outside European Union

Short-term support for health and business investment in Africa, Eastern and Southern Neighbourhood Countries, Western Balkans, Asia and Latin America

Accelerated financing and targeted technical assistance for partners in 100 countries as part of Team Europe response package; short-term support for health and business investment in Africa, Eastern and Southern Neighbourhood Countries, Western Balkans, Asia and Latin America; increased backing for business impacted by the pandemic. The European Investment Bank…

Africa Oil & Power Conference
Source: Africa Oil & Power Conference |

Events Industry retools to build hospitals in Africa

The venture applies HOTT3D’s design, construction and project management expertise to building medical facilities within days

A Cape Town-based exhibition builder, together with an event organizer, offer to work with governments and private sectors across Africa to rapidly build hospital infrastructures and shelters in the midst of the COVID-19 pandemic. Afrika Umoja, an initiative initiated by Cape Town temporary architecture specialists, HOTT3D with pan-African energy event…

African Energy Chamber
Source: African Energy Chamber |

Former Director of State Oil Assets and Entrepreneur Appointed to Lead African Energy Industry Lobby in the Central African Economic and Monetary Community (“CEMAC”) Region

Leoncio is based in Malabo where he will act on behalf of the Chamber across all public and private sector energy initiatives in the region

The African Energy Chamber (http://EnergyChamber.org) has appointed Leoncio Amada Nze, Founder & CEO of APEX Industries, as its Executive-President for the Central African Economic and Monetary Community (“CEMAC”) which is made up of six states: Gabon, Cameroon, the Central African Republic (CAR), Chad, the Republic of the Congo and Equatorial…

Source: International Monetary Fund (IMF) |

Coronavirus - Nigeria: Statement by IMF Managing Director Kristalina Georgieva on Nigeria

President Buhari’s administration is taking a number of measures aimed at containing the spread of the virus and its impact

Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) issued the following statement:   “Nigeria’s economy is being threatened by the twin shocks of the COVID-19 pandemic and the associated sharp fall in international oil prices.  President Buhari’s administration is taking a number of measures aimed at containing the…

Source: Africa Centres for Disease Control and Prevention (Africa CDC) |

Coronavirus - Africa: African Union and African private sector launch COVID-19 Response Fund

Leveraging African solidarity, the initiative aims to implement a pan-African self-reliance strategy to halt COVID-19 pandemic

Ahead of an expected surge in cases of COVID-19 in Africa, the African Union and the Africa Centres for Disease Control and Prevention (Africa CDC) have launched a public-private partnership with the AfroChampions Initiative, known as the Africa COVID-19 Response Fund. The partnership aims to raise an initial US$ 150…