How African Businesses Can Survive COVID-19

Even before cases of COVID-19 were reported on the continent, Africa had already faced negative impacts on its economy from reduced demand for raw materials from China, its biggest trading partner. The continent’s reliance on Chinese exports has sent the price of commodities skyrocketing. With the new travel restrictions, closure of businesses as well as the onset of extreme lockdown measures we can only predict that the situation will worsen.

But what does this mean for businesses on the continent? What can they do to soften the impact of this pandemic? 

Tune into our exclusive webinar with Murega Mungai, our Trading Desk Manager, for tips on how to survive the economic impact of COVID-19.

Murega Mungai on the impact of COVID-19 on African economies and how to mitigate the effects

WEBINAR NOTES:

  • How has economic growth been affected in Africa as a result of coronavirus? [04:01]
  • What is causing the decline in GDP and economic growth? [05:01]
  • With more cases being reported every day, what can we expect to happen next? [09:16]
  • What measures Governments are taking to abate the economic impact of COVID-19? [12:11]
  • Which countries in Africa are best placed to avoid COVID-19 impact? [13:58]
  • Are some industries better prepared for the pandemic than others? [16:20]
  • How can policymakers help cushion the blow of the virus and help support businesses? [17:45]
  • How are the agriculture and mining sectors dealing with the pandemic? [20:08]
  • Are Africa’s supply chains strong enough to survive and outlast border closures and transport lockdowns? [22:05]
  • What steps businesses can take to survive the negative effects of COVID-19. [23:06]
  • What threats are posed to credit financing? [34:21]
  • How can African startups pick up from the aftermath of COVID-19? [36:10]
  • How do you see the prospect of African startups getting funding from online community platforms? [37:47]
  • How can companies manage costs, optimize business for more profitability and stay afloat during this period? [39:31]
  • Is there a possibility of fuel shortages in the continent? [42:10]
  • What are some of the lessons that import/export-heavy countries can learn from this pandemic? [43:24]
  • What is the future for FX and payment flows and what measures have trading desks taken to counter the bearish market? [44:54]
  • What are some business opportunities that can be tapped into? [46:38]
  • Are there any client-facing opportunities for businesses? [47:55]
  • Does this pandemic present potential benefits for commodity traders? [50:01]
  • How will alternative currencies compare with fiat currencies after the pandemic? [51:20]
  • What’s the impact of the local media positioning of the crisis on businesses? [52:53]
  • What’s the balance between crisis management of social welfare and the economy? [54:07]
  • Will there be a drop off in FDI in the next two years? [56:04]
  • How can economies manage consumer demand post the pandemic? [57:33]
  • What can one invest in or hold liquidity in to avoid a shortfall in business assets and liquid cash? [59:19]

About The Author

  • Zahra Waliji is the Content Manager at AZA, a provider of foreign exchange and international money transfer solutions. She specializes in marketing strategy, content creation and branding.

  • Murega Mungai is the Trading Desk Manager at AZA, based out of the Nairobi office. His work revolves around FX trading and market analysis of emerging and frontier markets, particularly in Africa.

About The Author

Zahra Waliji

Zahra Waliji

Zahra Waliji is the Content Manager at AZA, a provider of foreign exchange and international money transfer solutions. She specializes in marketing strategy, content creation and branding.