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<p>In Rwanda, as the whole country is on lock down amid the coronavirus outbreak, CNBC Africa is joined by Adrew Kazibwe, an arts journalist, to find out more on the effects that the outbreak has had in the creative arts industry.</p>


The impact of COVID-19 on Rwanda’s creative arts industry

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<p>The logistics sector has a key role if not the most crucial to play in the supply chain of goods during the Covid-19 pandemic. But because of the times we are in its definitely not smooth sailing and has been heavily hit, CNBC Africa is joined by Gerald Mukyenga, Group CEO of Multilines International, a regional logistics company on what kind of impact COVID-19 has had on the industry.</p>


How the logistics sector is dealing with the COVID-19 pandemic


<p>NKC African Economics expects the coronavirus-related knock to economic
growth in Africa’s three largest economies alone to shave off 1 ppt from the
continent’s GDP growth this year, from 3.8% to 2.8%. </p>



<p>Preliminary estimates point towards the weakest continental growth
since the early 1990s.</p>



<p>The continent’s three largest economies, South Africa, Nigeria and
Egypt – together accounting for just under 60% of African GDP – will see a
significant weakening in economic growth this year. </p>



<p>This slowdown in economic activity will permeate through the
continent as these countries are salient drivers behind economic growth in
their respective regions.&nbsp; </p>



<p>In addition to the indirect effects stemming from weakness in the
largest economies, other African nations will also have to deal with a much
more volatile external economic environment. </p>



<p>The collapse in tourism will weigh on economic growth in many
countries (particularly the island nations, Morocco, Egypt, and Tunisia), while
a reduction in both export demand and commodity prices will weaken fundamentals
in Africa’s more export-oriented economies (most notably the oil producing
nations).&nbsp; </p>



<p>The escalation in the Covid-19 outbreak in Africa implies there is
a lot more at stake than foregone economic production. </p>



<p>Most African countries will not be able to effectively implement
the severe restrictions on movement that we have seen globally. The
impracticality of implementing widespread self-quarantine in shantytowns or
informal settlements means that this will not be an option. Mismanagement of
the situation could lead to human costs far exceeding economic losses.</p>



<p>Tourism is a key forex generator and employment creator across the
continent. Severe travel restrictions, border closures and lockdowns in key
source markets will result in a collapse in tourism during the first half of
the year, at least. </p>



<p>Domestic and intra-Africa tourism have been key drivers behind
growth in overall tourism in recent years, but as more Covid-19 cases are
confirmed on the continent we will see an increase in domestic travel
restrictions and regional border closures. </p>



<p>The island nations will be hardest hit, but the mainland will feel
the effects in the North (particularly in Tunisia, Morocco and Egypt), South
(Namibia, Botswana), East (Tanzania, Rwanda, Kenya) and West (Côte d’Ivoire,
The Gambia, Cameroon). </p>



<p>Low barriers to entry have led to tourism becoming a key source of
employment. The island nations in particular are dependent on tourism to
generate employment, most notably the Seychelles (where tourism accounts for
around 44% of formal employment), Cape Verde (39%) and Mauritius (19%). </p>



<p>Tourism has also become a salient job creator on the African
mainland, and a slump in the sector could result in rapid job losses given the prevalence
of micro- and small-sized enterprises operating in the sector.&nbsp; </p>



<p>The slowdown in global economic activity will translate into a
reduction in demand, while lower commodity prices will compound this negative
effect on exports. </p>



<p>Africa’s energy exporters will struggle to come to terms with a
much more hostile external environment. Countries such as Nigeria, Angola and
Gabon are highly dependent on oil exports not only to generate forex but also
to fund government spending. </p>



<p>Countries including Namibia, Zambia, Botswana and Mozambique are
dependent on mineral exports for the same reasons. </p>



<p>Generally speaking, countries that have a GDP structure orientated
towards exports will feel the pain of a weaker external environment.</p>



<p>Lower international energy prices will have a detrimental impact
on the continent’s oil exporters, but many other countries stand to benefit. </p>



<p>A reduction in the oil imports bill will have a favourable impact
on external balances while also containing consumer price inflation. Lower
inflation will support consumer spending at a time when a weak external
environment increases the importance of domestic consumption in driving overall
economic growth.&nbsp; </p>



<p>The South African economy had already entered 2020 on a very
fragile footing before the dramatic external developments related to the
Covid-19 pandemic. NKC forecasts a 5% real GDP contraction this year. Domestic
policy uncertainty and supply-side constraints have now been accompanied by a
deterioration in global business sentiment and a drop in demand for South
African goods, all weighing on the country’s economic recovery prospects. </p>



<p>In addition, the three-week long nationwide lockdown, which
commenced on March 27, will result in a collapse in consumer spending. The
outlook could deteriorate further if the lockdown is extended.&nbsp; </p>



<p>The coronavirus has not as yet, as far as we know, taken
significant hold in Nigeria. However, the weaker external environment and more
specifically, the recent collapse in international oil prices, will have a
marked impact on the economy’s performance this year.</p>



<p>Lower oil prices will result in tighter FX liquidity, rising
inflation, falling investment, lower fiscal expenditure and easing consumption
growth. </p>



<p>As a result, NKC has revised its growth projection sharply lower
to 1.2% this year, with risks still firmly stacked to the downside. </p>



<p>A more severe domestic outbreak of Covid-19 would cause
significant disruption to daily economic activity, particularly when
considering the population density in the country’s biggest cities. </p>



<p>Despite the Egyptian government’s efforts, the number of confirmed
Covid-19 cases continues to rise considerably. </p>



<p>The president has urged all citizens to stay at home for a two-week
period and a night-time curfew has been declared, while the possibility of a
formal lockdown in some regions is also circulating in local media. </p>



<p>The fiscal deficit is set to widen significantly over fiscal year
(FY) 2019/20 and FY 2020/21 following the announcement of a stimulus and
bail-out package to the value of approximately E£100bn. </p>



<p>Government revenues already came in far below budget during the
first half of FY 2019/20 and will take a massive knock during the second half
of the fiscal year, which ends in June. </p>



<p>Lower economic growth reflects weaker consumption, investment, and
exports. </p>



<p>The recently announced fiscal stimulus measures, however, should
prevent a collapse in domestic demand. </p>



<p>The economic impact of the coronavirus epidemic will be
considerable, but the human costs will be higher yet. </p>



<p>As of end March South Africa remains the hardest-hit African
country from a confirmed-case perspective and the expected economic hardship
reflects this. </p>



<p>However, South Africa is also arguably the best-placed country on
the continent to deal with the pandemic. While it does have a large
immuno-compromised population due to its struggles with HIV, the country might
be able to leverage its sophisticated private healthcare sector to supplement
inadequate public services. </p>



<p>Most other African nations will not have this benefit. </p>



<p>Confirmed Covid-19 cases will undoubtedly increase across the
continent in coming weeks, and timely and effective government responses will
be required to ensure that this does not become another African tragedy.</p>



<p><em>Jacques Nel – Head of Africa Macro</em></p>



<p>For more coverage on COVID-19 visit: <a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a></p>


Clarification on COVID-19 “hotspots” as SA moves to level 3 lockdown

Op-Ed: African giants to stumble due to Covid-19 pandemic


<p>Officials warn that although governments were trying to be
transparent and do the right thing, some slipped through the net.</p>



<p>By Chris Bishop</p>



<p>COVID-19 cases are occurring at the rate of 300-a-day in
sub-Saharan Africa and there are likely to be many more that the authorities
are missing, a World Health Organisation briefing on the continent admitted
Thursday. The good news is that experts are hard at work on creating a vaccine,
but this may take more than a year.</p>



<p>The WHO is working with governments across Africa to contain
the disease as it threatens to spread rapidly throughout the continent. Rwanda
and Angola have gone on lockdown in the last week and South Africa will follow
suit a midnight Thursday when businesses and shops – except those selling food
and medicine – will close across the country.&nbsp; </p>



<p>The webinar briefing, moderated by the World Economic Forum
from Geneva, heard that a month ago just one country in Sub-Saharan Africa
reported an infection; just two weeks ago it was 10 and in the last three days
40 Sub-Saharan Africa countries said they had cases of COVID-19.&nbsp;&nbsp; </p>



<p>“We have still a window, true it is narrowing every day, to
contain this disease. In half of the countries in Sub-Saharan Africa we still
have imported cases and we have identified that local spread is not
happening…We could contain this virus in many countries. What we are seeing is
draconian measures being put in place, like closing down places and stopping
flights, but these need to be following up by checking on people in quarantine
and making sure there is social distancing. We still have the opportunity to
stop it in some countries,” says Dr Matshidiso Moeti, the WHO Regional Director
for Africa, from her headquarters in Congo Brazzaville.&nbsp; </p>



<p>South African born Moeti, a citizen of Botswana, said there
was strong political will to fight the outbreak with countries in Africa
ramping up their defences. When the first case was reported in Africa, she
said, only Senegal and South Africa had the laboratories to diagnose the
disease; now 40 countries had the wherewithal.</p>



<p>WHO officials also admitted, under questions from
journalists on the webinar, that small countries and island nations in
Sub-Saharan Africa were most at risk, along with countries suffering conflict
and population displacements, because their resources were thin. </p>



<p>Officials also said that conditions in some parts of Africa
– where 50 or 60 people could be living the same property were not conducive to
the social distancing that is being seen as a main plank in the strategy to
fight the disease.</p>



<p>“I think this is something we will continue to think through
there is no easy answer to it. We have to think through the issue of our own
cultural leanings…This is something in which we have to work closely with our
community,” says Dr John Nkengasong, the director of the African Centres for
Disease Control for WHO.</p>



<p>Officials also admitted, when asked whether cases were being
underreported in Africa, that although governments were trying to be
transparent and do the right thing, some slipped through the net.</p>



<p>“There are cases out there that we don’t know,” admitted one
official.&nbsp;&nbsp;&nbsp; </p>



<p>Scores of experts were working on a vaccine for COVID-19,
but it was likely to take a year to 18 months to perfect one for the market.</p>



<p>For now, quarantine and keep your distance.</p>



<p>For more coverage on COVID-19 visit: <a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a></p>


International travel for South Africans is now allowed, this is how it will work

WHO: Sub-Saharan Africa reporting at least 300 COVID-19 cases a day

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<p>The International Monetary Fund (IMF) and the World Bank&#8217;s International Development Association have determined that Somalia has taken the necessary steps to begin receiving debt relief under the enhanced Heavily Indebted Poor Countries Initiative. Prime Minister of Somalia, Hassan Ali Khaire joins CNBC Africa for more.</p>


Somalia to receive financial aid under World Bank’s HIPC initiative

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<p>With the COVID-19 pandemic presenting an unprecedented global health crisis, the Kenyan government has taken drastic measures, including pay cuts for top government officials, in a bid to cushion the country from the economic shocks arising from the pandemic. Rodney Omukhulu, Assistant Investments Analyst at Cytonn joins CNBC Africa for more.</p>


Cytonn’s Rodney Omukhulu explains measures Kenyan govt. is taking to curb COVID-19 impact on economy

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<p>The recently launched Kenya Customs Agents and Freight Forwarders Bill 2020 aims to enhance professionalism in service delivery and compliance to the existing regulations in order to end cargo delays at ports, improve cargo flow, improve revenue collection by the revenue authority and lowering the cost of doing business. Fredrick Aloo, Secretary General of Kenya International Freight Forwarders and Warehousing Association joins CNBC Africa on challenges faced and the impact the bill will have.</p>


Kenya Customs Agents and Freight Forwarders Bill 2020: Here’s how it impacts regional trade

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<p>Small and Medium Enterprises are important drivers of Africa’s economic growth, accounting for up to 90 per cent of all businesses in these markets. Now with almost everything put to a halt due to COVID-19 outbreak, this sector is expected to be hit hard. EFI Hub CEO, Anu Shah joins CNBC Africa to discuss measures to minimize the loss.</p>


How COVID-19 is impacting SMEs in Africa

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<p>IATA has estimated that the African Aviation Industry will lose more than $4 billion as a result of the COVID-19 pandemic – now with only Ethiopian Airlines posting profits in recent times on the continent, many of the industry players were in survival mode even before this pandemic. However, can they live to see past this black swan? Secretary General of the African Airlines Association (AFRAA), Abderahmane Berthé joins CNBC Africa for more.</p>


How will Africa’s aviation industry survive COVID-19 crisis?

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<p>With closure of schools and offices, many people are looking for alternative entertainment platforms to stay away from social gatherings. Recently, Mobile Games company, Usiku Games, free-rated its fees on mobile app games and they expect to create a fan-based of 1 million subscribers during this lockdown. Alex Owiti, ICT Policy Analyst joins CNBC Africa for more.</p>


How to protect yourself from coronavirus related fraud and scams

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<p>Despite the COVID-19 pandemic, the Rwanda Stock Exchange has maintained an upward trend with secondary market activities increasing and the All Share Index up to 10.75 per cent. Pierre Celestin Rwabukumba, CEO of Rwanda Stock Exchange joins CNBC Africa for more.</p>


Rwanda Stock Exchange remains steady despite COVID-19 pandemic

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<p>As we continue to adapt our lives around the effects of COVID-19 on humanity, one sector that has been predicted to flourish in these times is the fintech sector, but how will this happen? Founder of the Eversend App mobile wallet, Stone Atwine joins CNBC Africa for more.</p>


Is this an opportunity for fintech companies to flourish despite COVID-19

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<p>Last year the Prime Minister said that Technical and Vocational Education and Training (TVET) is one of the most powerful tools in fighting poverty and bridging the skills gap in Rwanda, The Gov&#8217;t has subsequently been putting a focus on TVET, with the goal of increasing the number of students in such schools from 31 to 60 per cent by 2024 – but with all schools closed and most industries directed to suspend operations for an initial period of two weeks, how will these plans get back on track after the COVID-19 crisis passes? Will new goals have to be set? Deputy Vice Chancellor from Rwanda Polytechnic, Rita Mutabazi joins CNBC Africa for more.</p>


How will Rwanda’s TVET aspirations bounce back from the COVID-19 crisis?

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<p>The future of work as we know it might never be the same as a result of the impact of COVID-19, but what exactly is instore for us? Iris Irumva, Managing Director of ITM Africa joins CNBC Africa for more.</p>


African SMEs bearing the brunt of COVID-19 pandemic

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<p>As of last weekend the Government of Rwanda deemed all bars closed, and all restaurants and cafe&#8217;s only open for take away services for an initial period of two weeks. That leaves the country that&#8217;s officially on lock down with no choice but to cook or order their food to go, and with local security forces peppering the streets ensuring that quarantine rules are followed, food delivery services are becoming more useful than ever. Insert Vuba Vuba, the delivery service that emerged when Jumia officially closed it&#8217;s Rwanda operations at the end of last year. Albert Munyabugingo, Founder of the service joins CNBC Africa to explain how the lock down has affected his business.</p>


This is how COVID-19 affecting local businesses in Rwanda

This is how COVID-19 is affecting local businesses in Rwanda

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<p>The United Nations Economic Commission for Africa predicts that coronavirus will cut 1.4 per cent off Africa’s $2.1 trillion GDP due to widespread disruption of business on the continent and across the world. According to estimates, countries on the continent have so far lost an estimated $29 billion to the coronavirus economic disruption, an amount equal to Uganda’s gross domestic product. Dr Mama Keita, Director of UN Economic Commission for Africa in Eastern Africa joins CNBC Africa for more.</p>


UNECA on COVID-19’s impact on African economies

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<p>In Burundi, the Minister in charge of Public Security suspended all flights in and out of the country to prevent the spread of the coronavirus. He further said borders into the country will remain open and citizens are advised not to travel to countries that already have COVID-19 cases. Analyst, Jean Claude Nkundwa joins CNBC Africa on the measures put forward by the country.</p>


Rwanda

The impact of COVID-19 on Rwanda’s creative arts industry

How the logistics sector is dealing with the COVID-19 pandemic

Op-Ed: African giants to stumble due to Covid-19 pandemic

WHO: Sub-Saharan Africa reporting at least 300 COVID-19 cases a day

Somalia to receive financial aid under World Bank’s HIPC initiative

Cytonn’s Rodney Omukhulu explains measures Kenyan govt. is taking to curb COVID-19 impact on economy

Kenya Customs Agents and Freight Forwarders Bill 2020: Here’s how it impacts regional trade

How COVID-19 is impacting SMEs in Africa

How will Africa’s aviation industry survive COVID-19 crisis?

How to protect yourself from coronavirus related fraud and scams

Rwanda Stock Exchange remains steady despite COVID-19 pandemic

Is this an opportunity for fintech companies to flourish despite COVID-19

How will Rwanda’s TVET aspirations bounce back from the COVID-19 crisis?

African SMEs bearing the brunt of COVID-19 pandemic

This is how COVID-19 is affecting local businesses in Rwanda

UNECA on COVID-19’s impact on African economies

Burundi suspends all flights to prevent spread of COVID-19

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Rwanda

The impact of COVID-19 on Rwanda’s creative arts industry

How the logistics sector is dealing with the COVID-19 pandemic

Op-Ed: African giants to stumble due to Covid-19 pandemic

WHO: Sub-Saharan Africa reporting at least 300 COVID-19 cases a day

Somalia to receive financial aid under World Bank’s HIPC initiative

Cytonn’s Rodney Omukhulu explains measures Kenyan govt. is taking to curb COVID-19 impact on economy

Kenya Customs Agents and Freight Forwarders Bill 2020: Here’s how it impacts regional trade

How COVID-19 is impacting SMEs in Africa

How will Africa’s aviation industry survive COVID-19 crisis?

How to protect yourself from coronavirus related fraud and scams

Rwanda Stock Exchange remains steady despite COVID-19 pandemic

Is this an opportunity for fintech companies to flourish despite COVID-19

How will Rwanda’s TVET aspirations bounce back from the COVID-19 crisis?

African SMEs bearing the brunt of COVID-19 pandemic

This is how COVID-19 is affecting local businesses in Rwanda

UNECA on COVID-19’s impact on African economies

Burundi suspends all flights to prevent spread of COVID-19

News Tips

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