African countries have been among the last to be hit by the global coronavirus pandemic. Yet, as the cases rise and governments rightfully take the necessary measures to slow the spread of the virus, the continent is likely to face widespread economic fallout as business slows to a near halt.
Citi has been appointed by the African Development Bank to help tap markets with a bond to finance governments and companies fighting coronavirus in Africa, Miguel Azevedo, Citi’s head of investment banking for Africa and the Middle East, told The Africa Report.
As Nigeria wakes up to its new reality of the pandemic in its borders; decision-makers at both the government and the private sector need to take action to ensure the virus doesn't spread as fast it has in other countries. But with the private sector still lagging in this, and the government late to implement measures, many wonder if it's already a hopeless situation.
Lambasted for maintaining its flights to China at the height of the pandemic, Ethiopian Airlines has stood its ground and currently operates flights to and from Europe, the new epicentre of the coronavirus outbreak. This makes the carrier one of the last companies still operating intercontinental flights.