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Today's Paper | March 15, 2026

Published 05 Apr, 2020 08:27pm

Covid-19 can have devastating effects on African economy, says study

While Africa accounts for just a fraction of total Covid-19 cases globally, according to a Reuters tally, the economic impacts of the virus on its economy can be devastating, a study by the African Union says.

According to the study:

  • Economy could shrink 0.8 per cent

  • About 15pc of FDI can be lost

  • 20 million jobs can be lost

  • 20-30pc of fiscal revenue could be lost

  • Imports and exports may fall by 35pc from 2019 levels

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