It is impossible to overstate the impact that COVID-19 is having on the global aviation sector. The International Air Transport Association (IATA) estimates that the industry will see its revenue shrink by 44% in 2020, while global GDP will “only” contract by approximately 3%.
Two months after the first coronavirus cases burst onto the scene in Africa, the disease seems to be spreading more slowly on the continent than elsewhere. What factors could be behind this apparent resilience?
Following the assurances to shareholders that the bank is considering new ways to efficiently “withstand the effects of coronavirus pandemic on businesses,” Access Bank announced on Monday that it is restructuring salaries “across the institution as a result of the impact of COVID-19.”
One of Nigeria’s biggest food businesses, the Flour Mills of Nigeria, is deploying N400m worth of food relief packages to vulnerable communities as part of its N2bn support in the fight against coronavirus in a country of nearly 200 million people.