
<p>As several African countries continue to grapple with spikes in Covid-19 cases, it remains difficult to foresee the Africa that will emerge from the virus. Does the pandemic present an opportunity “to reset Africa”, as suggested by the Nigerian entrepreneur Tony Elumelu, or will the continent’s leaders be faced with the same long-term challenges that have simply been exacerbated by the pandemic?</p>



<p>For months, Africa had escaped relatively unscathed as the global centre of the virus shifted from Asia to Europe to North America and South America. Yet we now know that the number of African infections and deaths is still rising. According to the World Health Organization back in July, 22 of Africa’s 54 countries found that cases had more than doubled in little over a month.</p>



<p>While the primary concern for policymakers should be the health of their citizens, the economic impact of Covid-19 is plain to see. The African Development Bank Group has projected that Africa’s GDP is to contract in 2020 by 1.7 percent in the baseline scenario, which assumes a substantial impact of the virus but over a short duration. The collapse in oil prices has hit Africa’s second and third largest economies &#8211; Nigeria and Angola &#8211; hard, while the collapse of tourism and a drop in demand for agricultural exports to Europe have devastated economies from Kenya and Ethiopia to Cote D’Ivoire, Mauritius and the Seychelles.</p>



<p>Across the globe, the pandemic has damaged international supply chains and many are in agreement that the future is, by necessity, regional. It is clear that economies are having to look inwards, considering how to best support local industry in order to navigate the impact of the ongoing pandemic. While the coronavirus may be a new phenomenon, supporting entrepreneurship and stimulating the diversification of African economies has been a long-term challenge.</p>



<p>As mentioned, the Nigerian entrepreneur Tony Elumelu has said “the pandemic presents an opportunity to reset Africa, create employment and eliminate poverty”, and that the continent must “embrace the new normal”, with disruption in every sector from the digital economy to logistics. He suggests that there is now a “unique opportunity for a united Africa as a strong regional bloc acting in a coordinated fashion”.</p>



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/08/Peter-Burdin-1-rotated.jpg" alt="" class="wp-image-379931" width="684" height="913" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Peter-Burdin-1-rotated.jpg 480w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Peter-Burdin-1-225x300.jpg 225w" sizes="(max-width: 684px) 100vw, 684px" /><figcaption>Peter Burdin  -&#8220;If a transformation is to take place, it will require investment and training across the board.&#8221;</figcaption></figure>



<p>The fact that the launch of African Continental Free Trade Area has been delayed challenges Elumelu’s plea for strong regional coordination, however, we have seen some examples of a coordinated approach between African nations that does provide significant hope.</p>



<p>Cameroon has sent planes to the Democratic Republic of Congo to help that country get medical support its more remote areas, the African Development Bank has denoted $4 million to South Sudan to bolster its fragile health system, and the African Union has launched a medical supplies platform for all 54 African countries. This is designed to make medical supplies, test kits and protective equipment available across the continent.</p>



<p>Something extraordinary is needed, and there are growing calls for investment to encourage African SMEs to create local supply chains in communities to boost employment. SMEs currently account for 90% of all businesses in Africa. If a transformation is to take place, it will require investment and training across the board. SMEs need support, training and financing to deliver solutions for manufacturing, healthcare, energy, digital innovation, infrastructure, agriculture and other sectors.</p>



<p>It is programmes such as the Citizens Entrepreneur Development Programme launched by the Economics Association of Zambia which exemplify the type of initiative that will be needed across Africa in the post-Covid world. In partnership with investors, including the Zambian business African Green Resources chaired by Zuneid Yousuf, and local NGOs, the independent programme has mobilised $1 million to support small businesses through the provision of funds, skills, and access to markets. The scheme hopes to bring economic opportunities to all parts of Zambia.</p>



<p>It is obvious that much more is needed across the continent to stimulate growth, and while it remains extremely difficult to say with any great confidence that economies will be “reset” following the pandemic, it is clear that that when we do reach the other side it cannot simply be business as usual. Long-term challenges remain, and it is true that they have been compounded by the events of 2020, but I remain an optimist.</p>



<p><em> Peter Burdin, is the BBC&#8217;s former Africa Bureau Chief</em></p>


Peter Burdin

OPINION:  Post Covid-19: Is this an opportunity to “reset” African economies?


<p>In a roundtable discussion on Wednesday made up of several African leaders, organised by the New York Forum Institute, Chairman of the <a href="https://www.cnbcafrica.com/coronavirus/2020/03/28/tony-elumelus-united-bank-for-africa-donates-14mn-to-covid-19-relief-across-africa-this-is-how-it-will-be-used/">United Bank for Africa (UBA) Plc</a> Tony Elumelu stated that the global <a href="https://www.cnbcafrica.com/covid-19/">COVID-19</a> pandemic presents an opportunity to ‘reset’ the African continent.</p>



<p>The statement below provides a full summary of the meeting:</p>



<p><strong>Elumelu says Covid-19 Presents Opportunity to Reset Africa&nbsp;</strong></p>



<p>·&nbsp;&nbsp;&nbsp;Advocates Martial Plan to Boost Electricity And Ease Debt Burden</p>



<p>·&nbsp;&nbsp;&nbsp;&nbsp;Wants Youths Prioritised as SMEs are Empowered</p>



<p>The Chairman of the United Bank for Africa (UBA) Plc, Tony Elumelu, has stated that the Coronavirus Pandemic currently ravaging the world presents an opportunity to reset the African continent so that Africans can be empowered to become more productive and self reliant. He said this today at the high-level Roundtable discussions made up of African leaders including Dr. Ngozi Okonjo &#8211; Iweala, the Special Envoy of the African Union on Covid-19 and Tidjane Thiam who is also a Covid-19 Special Envoy responsible for mobilising international economic support for Africa.</p>



<p>During the session titled ‘Resilient World: An African call for a new world order’, Elumelu stated&nbsp;“I see this pandemic as an opportunity to reset Africa.’&nbsp;Whilst pointing out that&nbsp;Africa as a continent has all it takes to emerge into a strong digital economy, the UBA Group Chairman advocated a martial plan that will galvanise the entire continent and make Africa less dependent on the ‘circularity of debt’ from developed nations, which according to him, has been a major setback for decades.</p>



<p>He said, “I feel that as we engage the rest of the world in providing relief, we need to look for a more fundamental solution to Africa’s challenges. I have often argued for a martial plan overtime. We need to mobilise everyone. If we have a martial plan that mobilises resources to address particular issues, then we can mitigate against this constant begging for assistance.”</p>



<p>Explaining further, Elumelu pointedly said, “The truth is that we have resources to help mobilise people. As the founder of the Tony Elumelu Foundation, we committed to endow $100m to support young African entrepreneurs and we have been seeing the positive results this has yielded so far. It is evident that if we can fix access to electricity, ensure stability of the macro-economic environment, ensure prioritisation of the youth, empower our small and medium scale enterprises and fix youth migration, then we are in for a better and more resilient economy’.&nbsp;“There is the urgent need to prioritise our youths and empower our SMEs. The people who work hard need to be encouraged,” Elumelu noted passionately.</p>



<p>Tidjane Thiam&nbsp;who supported what Elumelu had proposed, said that rather than depend on international assistance at every point, there is the need for governments and institutions to invest in activities that will prioritise the youths and create a better enabling environment.&nbsp;</p>



<p>“I totally agree with Tony Elumelu. The major challenge is that we do not see enough entrepreneurs. Similar to what obtains in Asia and Europe, there is the need to promote a class of Entrepreneurs to drive the African economy. &nbsp;we need to groom more Tony Elumelus’ from Africa’ he said. Tidjane continued, ‘We know what needs to be done. We need government and multinational institutions to bring in capital so that there will be investment in health, infrastructure and the like. We do need to get rid of this debt cycle because constant rescheduling and begging for relief for debts is not good for us as a continent,” Thiam said.</p>



<p>Okonjo-Iweala, on her part, called for a system where youths and women will be empowered to create and produce more to boost the African economy.</p>



<p>Whilst calling on private and government parastatals to engage in meaningful partnerships that will help to galvanise job creation and entrepreneurship among youths in Africa, she said, “As Tony pointed out, we can see this pandemic as an opportunity for the continent. We have the African Free Trade Agreement, and we have to make it real.&nbsp;</p>



<p>“We have to specialise our countries to manufacture the things we need so we can trade with others. We need to produce good jobs for our young people. We need to empower our women and youths and put them at the centre. It is said that Africa would have the largest number of youths in the world by 2050, so we need to fix this,” she noted.</p>



<p>The roundtable which was organised by the New York Forum Institute, also had in attendance African Heads of States including President Mahamadou Issoufou of Niger; President Uhuru Kenyatta of Kenya; President Alassane Ouattara of Cote d’Ivoire; President Macky Sall of Senegal and President Julius Bio of Sierra Leone;</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>


COVID-19 is the perfect opportunity to ‘reset’ Africa - UBA Chairman Tony Elumelu

COVID-19 is the perfect opportunity to ‘reset’ Africa – UBA Chairman Tony Elumelu


<p>Entrepreneur Tony Elumelu&#8217;s UBA has joined corporates and business leaders from Africa in donating money to fight the COVID-19 pandemic. Below is a statement from UBA.</p>



<p><strong>READ:</strong> <a href="https://www.cnbcafrica.com/coronavirus/2020/03/28/motsepe-family-associates-join-rupert-and-oppenheimer-families-in-donating-r1bn-to-deal-with-covid-19-pandemic/">Motsepe family &amp; associates join Rupert and Oppenheimer families in donating R1bn to deal with COVID-19 pandemic</a> </p>



<p><strong>READ:</strong> <a href="https://www.cnbcafrica.com/coronavirus/2020/03/28/abdul-samad-rabius-bua-group-pledges-n1bn-to-fight-covid-19-in-nigeria/">Abdul Samad Rabiu’s BUA Group pledges N1bn to fight COVID-19 in Nigeria </a> </p>



<p><strong>United Bank For Africa (UBA) Announced Thursday That it Will Provide N5 billion(U$14 million) To COVID-19 Relief Support Across Africa</strong></p>



<p>United Bank for Africa Plc (UBA) today announced a donation of over 5 billion Naira (USD14 million), through the UBA Foundation, to catalyse a comprehensive pan-African response to the fight against the coronavirus (COVID-19) global pandemic.<br><br> <strong>For more coverage on COVID-19 visit:</strong>&nbsp;<a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a> </p>



<p>The donation will provide significant and much-needed support to Nigeria and 19 other African countries, by supplying relief materials, critical care facilities, and financial support to Governments. The UBA support programme will be allocated as follows:</p>



<ul><li>N1 billion (USD2.8 million) to Lagos State Government in Nigeria</li><li>N500 million (USD1.4 million) to Nigeria’s Federal Capital Territory, Abuja</li><li>N1  billion (USD2.8 million) to the remaining 35 states in Nigeria</li><li>N1.5  billion (USD4.2 million) to UBA’s presence countries in Africa</li><li>N1  billion (USD2.8 million) for Medical Centres with equipment and supplies</li><li>Free Telemedicine call centre facility</li></ul>



<p>The pan-African bank will
fund a medical centre immediately in Lagos, Nigeria, with beds for isolation
and ICU facilities, managed and operated in partnership with Heirs Holdings’
healthcare subsidiary, Avon Medical Hospital.</p>



<p>In addition, UBA is
providing a free telemedicine platform, that is physician-led, to provide
direct access to medical advice to citizens, in compliance with social
distancing requirements.</p>



<p>UBA Group Chairman Tony
O. Elumelu, stated ‘This is a time when we must all play our part.&nbsp; This
global pandemic must bring citizens, governments and business leaders together
– and quickly. As we see a rapidly increasing number of cases of the
coronavirus in Nigeria and Africa, the private sector has to work hand in hand
with&nbsp;various Governments, in stemming the spread of the global pandemic.</p>



<p>We commend the efforts of
governments and we are keen to partner and contribute our resources to the
collective effort, that will ensure the response to the pandemic is swift and
effective’.</p>



<p>Operating in 20 African
countries and globally in the United Kingdom, the United States and France, the
United Bank for Africa has a strong record of supporting its communities,
through challenging times.&nbsp;</p>


Tony-Elumelu

Tony Elumelu’s United Bank For Africa donates $14mn to COVID-19 relief across Africa, this is how it will be used…

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<p>Noomane Fehri, co-Founder and CEO of B@labs, and Former Minister of Communication, Technology and Digital Economy for Tunisia says the Tony Elumelu Foundation is one of the main tools to help develop a single African market. He joins CNBC Africa’s Kenneth Igbomor for more.</p>


B@labs CEO Noomane Fehri on how entrepreneurs can help develop a single African market

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<p>The Tony Elumelu Foundation has unveiled the African entrepreneurs for the fifth cycle of its 100 million-dollar entrepreneurship programme. Ifeyinwa Ugochukwu, incoming CEO of the Tony Elumelu Foundation joins CNBC Africa to discuss the plans for this year&#8217;s programme.</p>


Tony Elumelu Foundation unveil finalists for its 2019 programme

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<p>Tony Elumelu Foundation&#8217;s Entrepreneurship programme is in its 5th cycle, and the deadline for this year&#8217;s application ends on the first of March. Parminder Vir, CEO of the Foundation joins CNBC Africa to discuss what to expect this year.</p>


Tony Elumelu Foundation CEO reveals what to expect in 2019

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<p>How can Africa take advantage of the fourth industrial revolution to maintain the &#8220;Africa rising&#8221; narrative? CNBC Africa caught up with Tony Elumelu, Chairman of Heirs Holdings on the side-lines of the World Economic Forum in Davos to discuss this and more.</p>


There is nowhere else where you get the returns on investments you get in Africa but we can make them better: Tony Elumelu

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<p>The Tony Elumelu Foundation has championed and made real investment in African entrepreneurs across the continent. Speaking to CNBC Africa at Intra-African Trade Fair in Cairo, founder Tony Elumelu, highlighted the importance of cross-continental collaboration.</p>


Tony Elumelu speaks on the importance of cross-continental collaboration

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<p>The Tony Elumelu Foundation has championed and made real investment in African entrepreneurs across the continent. Speaking to CNBC Africa at today&#8217;s Intra-African Trade Fair in Cairo, founder Tony Elumelu highlighted the importance of cross-continental collaboration.</p>


Tony Elumelu urges strong support for Africa’s entrepreneurs

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<p>The Tony Elumelu Foundation held its fourth forum in Lagos, where the foundation launched its digital platform for African entrepreneurs. CNBC Africa&#8217;s Kenneth Igbomor caught up with Tony Elumelu, Founder of the foundation to discuss this and more.</p>


Tony Elumelu Foundation unveils digital platform for African entrepreneurs

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<p>CNBC Africa caught up with Tony Elumelu, Founder of the Tony Elumelu Foundation and discussed the importance of digital skills for African entrepreneurs.</p>


Why digital skills are important for Africa’s entrepreneurs – Tony Elumelu

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<p>Tony Elumelu, founder of the Tony Elumelu Foundation joins CNBC Africa to discuss his expectations for the World Economic Forum meetings in Davos and to proffer his solution to Africa&#8217;s unemployment problem.</p>


How to fix Africa’s unemployment problem – Tony Elumelu

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<p>We need to prioritise the African Youth says Tony Elumelu, Chairman of Heirs Holdings.  CNBC Africa’s Onyi Sunday caught up with him on the side-line of the ongoing Business for Africa forum in Egypt &#8211; titled Africa 2017 to discuss the factors that could help African entrepreneurs succeed.</p>


Tips to succeed as an African entrepreneur from Tony Elumelu

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<p>Hundreds of African entrepreneurs converged at the third Tony Elumelu Foundation Entrepreneurship programme, held in Lagos,According to the participants, memories and lessons from the event will empower them to succeed in business.</p>


The Tony Elumelu Foundation participants speak out

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<p>Tony Elumelu, Founder of Tony Elumelu Entrepreneurship Programme said eradicating poverty from Africa remains the fundamental drive for the TEEP programme.</p>


Tony Elumelu

OPINION: Post Covid-19: Is this an opportunity to “reset” African economies?

COVID-19 is the perfect opportunity to ‘reset’ Africa – UBA Chairman Tony Elumelu

Tony Elumelu’s United Bank For Africa donates $14mn to COVID-19 relief across Africa, this is how it will be used…

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Tony Elumelu Foundation unveil finalists for its 2019 programme

Tony Elumelu Foundation CEO reveals what to expect in 2019

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Tony Elumelu speaks on the importance of cross-continental collaboration

Tony Elumelu urges strong support for Africa’s entrepreneurs

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Why digital skills are important for Africa’s entrepreneurs – Tony Elumelu

How to fix Africa’s unemployment problem – Tony Elumelu

Tips to succeed as an African entrepreneur from Tony Elumelu

The Tony Elumelu Foundation participants speak out

Poverty eradication is top priority for TEEP -Tony Elumelu

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Tony Elumelu

OPINION: Post Covid-19: Is this an opportunity to “reset” African economies?

COVID-19 is the perfect opportunity to ‘reset’ Africa – UBA Chairman Tony Elumelu

Tony Elumelu’s United Bank For Africa donates $14mn to COVID-19 relief across Africa, this is how it will be used…

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Poverty eradication is top priority for TEEP -Tony Elumelu

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