The economic downturn caused by Covid-19 has sent shock waves across the Sub-Saharan African region.
The Africa Continental Free Trade Area (AfCFTA) Secretariat reports that, for the first time in decades, there has been a contraction of GDP of between 2 to 5 per cent in sub-Saharan Africa. This is directly attributable to the pandemic.
The crisis has also triggered a reality check. It has exposed the challenges and inequalities of ‘business as usual’ and magnified the risks inherent in a business model, which often does not have inclusivity and sustainability as priorities. It is now more evident than ever that the way we produce, trade, organise our supply chains, and consume must change if we want to mitigate short-term impacts and better prepare ourselves for future crises while building resilience of our economies.