The pandemic of the new coronavirus, COVID-19, has had abundant consequences around the world. The African continent has recorded more than 702,663 cases of COVID-19, and the number of developing countries experiencing a strong accumulation of cases is already a concern.
According to available data, cases have more than doubled in many African countries in recent months. As a result, nearly two-thirds of countries enjoy network transmission. Countries such as Algeria, Egypt, Ghana, Nigeria and South Africa accounted for around 71 in line with the percentage of COVID-19 cases in Africa.
South Africa alone accounts for 43% of all cases on the continent. However, with observations in Africa, the number of cases and deaths remains low compared to other continents.
It is unclear whether the explanation of why the fewest cases shown on the continent is due to the lack of good enough testing capacity or whether the virus does not really affect as many other people on the continent as in other parts of the world.
But with the continuous accumulation of infections, it is difficult to oppose the economic consequences, especially since it is a physical fitness problem. One thing is certain, however: coronavirus is a significant threat to households, businesses and the global economy.
As noted, many other people living in Africa do not have access to protective equipment, especially masks and nutrition good enough with completion and vegetables that would regularly be immune.
This will be one thing because of a possible primary outbreak. From the observation of the context, the urgent questions on COVID-19, specifically in Africa, are: how long will it last? When will we see the post-COVID era?
How many more people will like the virus before a trend change is noticed? How do staff get sufficient protection? But the answers to these questions can be summarized as follows: COVID-19 has brought a new normal and is unlikely to disappear quickly.
That said, COVID-19 continues to exert global pressure on countries, health care systems and markets and businesses, both large and small. In Africa, it is already causing incalculable human suffering across the continent and putting pressure on fitness systems.
One of the greatest critical implications of COVID-19 is that it affects all facets of life: economics, business, governance and regulations. However, gravity is more in a weak economy, as in Africa, where peak countries are increasing widely.
In my opinion, the pandemic will replace the global pandemic and will likely leave a permanent impact, i.e. on households, countries, businesses and their operations.
According to Dr Ngozi Erondu, a research associate at Chatham House’s Global Health Program in London, the virus has been found to have a more serious effect on others with underlying fitness problems.
It makes sense to hypothesize that Africa can simply delight in more serious infections with COVID-19, a malnourished population, malaria and other infections.
Today, the pandemic has disappointed and disrupted businesses, households, markets and has also exposed competition and not that of governments around the world. It is highly unlikely that the global will return to the pre-COVID-19 era.
For example, countries with complex technological, economic and fitness systems, such as the United States, China, the United Kingdom, Spain and Italy, are suffering from preventing the spread of the virus at all costs. More worrying is the scenario in Africa, where deficits come with infrastructure and fitness system.
Therefore, as a nation, government, business owner, entrepreneur or small business operator, considerations about existing realities and advances are essential, and the desire to monitor the progress of the epidemic is in the future.
This will go a long way to helping to come up with concepts to overcome the difficult era that the epidemic has presented. The emergence of coronavirus in Africa is a poor indicator of economic performance. The continent is lately dealing with progression in all known sectors, in the spaces previously known.
Therefore, the continent is at the greatest threat in such cases if the hole is not reduced. Many may lose their lives due to a lack of good physical care and monetary and palliative support.
With the continued increase in COVID-19 cases in Africa, this may adversely affect bilateral cross-border relations, the aptitude system, the influx of foreign direct investment, jobs, imports and exports, money markets, trade, tourism, air travel, events, schools; and this is likely to only disrupt or exceed the economic forecasts and estimates of income streams of African nations.
Moreover, in countries with weak establishments and legacies of political instability, coronavirus can create political tensions and tensions. If the epidemic develops, citizens will face ongoing monetary difficulties, and the government will also revel in minimizing tax revenues, which can exacerbate budgetary pressures caused by spending accumulation, minimizing fiscal systems, and more serious government budget constraints.
This arrival can only cause inflation and have a negative effect on many companies, especially SMEs, given the great uncertainty surrounding production and is a warning if the virus continues to spread.
There has also been evidence that pandemics can have social and political consequences, such as conflicts between countries and citizens, eroding disposable income, increasing poverty levels, and increasing social tensions and discrimination. The pandemic can also magnify political tensions and cause unrest, especially in a fragile country with a legacy of violence and weak institutions.
Among citizens and businesses, significant discounts on income and profits are inevitable, a major contraction in economic activity, the collapse of foreign trade, increased unemployment, declining productivity, disruptions in normal operations, and, in some cases, business. Closures.
Today more than ever, businesses, governments and families want to expand a strategy to mitigate the effect of the pandemic. Business models want to be reviewed and public policies will certainly want to change; the family that makes plans and budgets will want to be reconsidered. In addition, contingency plans are needed good enough to cope with the realities that exist in all its ramifications.
However, investments may be more concentrated through African governments in health, education and infrastructure development. If infrastructure is improved, Africa’s economy will revel in a significant flourish, as it will have an effect on the non-oil sector and create employment opportunities.
In addition, due to the effect of COVID-19, heads of government in Africa can come with other economic stimulus in non-oil sectors to bring production to life, reduce loss of tasks and improve economic activities, mainly in agriculture and SMEs. Sectors.
As things stand, SMEs play a key role in economic expansion and progress in all climates. As a result, African governments will have to eliminate points that have continued to hamper the functionality and survival of the SME sector, such as abnormal force supply, decrepit infrastructure, over-regulation, and fiscal burden, among others.
As the new coronavirus epidemic is not expected to go away in the near future, a new general has been established. A postpandemic looks like a marathon; Therefore, to stop the coVID19 wave, proactive external action is needed not only to save lives, but also for economic prosperity. The new popular will most likely shape the financial and fiscal policies of African nations.
Dr. Olubiyi, expert in entrepreneurship and small management, can be reached through: [email protected]
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