Anthony Iwuoma
An alarming report by Economic Commission for Africa (ECA) has raised the red flag, saying unless adequate protection is enforced, Africa risks losing over 300,000 people to the rampaging Coronavirus (COVID-19) pandemic.
Over 17,000 people in Africa have so far been infected by the virus, with about 1000 deaths.
Entitled COVID-19: Protecting African Lives and Economies, the report stated that further costs may be imposed on Africa’s parlous health systems.
It pointed out that the crisis would, at best, stall Africa’s economic growth rate from 3.2 percent to 1.8 percent and thereby plunge about 27 million people into grinding hardship.
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The UN Under Secretary-General and Executive Secretary, Economic Commission for Africa, Vera Songwe, in a statement, said $100 billion is needed to help counties address their needs.
“To protect and build towards the continent’s shared prosperity, $100 billion is needed to urgently and immediately provide fiscal space to all countries to help address the immediate safety net needs of the populations.
“The economic costs of the pandemic have been harsher than the direct impact of the COVID-19. Across the continent, all economies are suffering from the sudden shock to the economies. The physical distancing needed to manage the pandemic is suffocating and drowning economic activity,” she warned.
The report also expressed fears that Africa’s small and medium enterprises may be knocked out of business unless urgent palliatives are given to them.
