The economic impact of COVID 19 has been seen very clearly on the Chinese economy and its future effects have already been factored into major stock markets falls all around the world, despite the best efforts of major economies to counter the fears with economic stimulants. A global recession now seems inevitable, as suggested by JP Morgan and others.
Africa is working hard to put plans in place to manage the spread of the virus with significant actions in place to limit the contagion. Countries closest to Europe and those who rely heavily on tourism and foreign travel have been hit hardest as seen in the graph below.
However, deaths on the continent from COVID 19, can still be counted on one-hand. This next tracker will follow how this will sadly but undoubtedly grow over the next weeks and months. We know Africa’s health care facilities will be put under tremendous strain. Spending on health care in South Africa is about 8% of GDP. The rest of the world is closer to 10% but many poorer African countries spend less than that off a much lower base. Without specifying the percentage by country, this metric may be a useful way to predict and understand the impact of COVID 19 as this situation unfolds. Only time will tell and we pray Africa is spared the brunt of the impact given its already fragile economic health and limited infrastructure.
Click on the graph below to watch the progression of cases of COVID 19 in Africa. The size of the bubble represents the number of deaths, which at this point, stands at 6 in total. Only Egypt (2), Morroco (1) and Algeria (3) have recorded deaths so far.