Beyond the talk of the spread of the novel coronavirus in Africa, there is a major concern people of Africa should be talking about, and it is how African economies and businesses will survive the economic scourge of the virus. The spread of the pandemic around the world is generating economic and financial ripples and storms that are very likely to do a lot of damage to businesses and economies on a scale that might be beyond the measurements of the Richter scale. The fatalities African businesses and economies are exposed to are very severe.
The major risks businesses and economies in Africa are exposed to come from deficiencies that are arising from supply chain challenges caused by restrictions and mandatory quarantines in major industrial centers around the world and a drop in demand for raw materials from the more developed world. It also extends to restrictions that affect businesses on the African homeland. Moreover, all these issues are escalated by impending issues that have been raging for a while in the backgrounds of the scheme of things and daily workings of the economy. This makes it very challenging to respond to the adverse scenarios the after-shocks of the pandemic poses to Africa.
