NABC in collaboration with ABSA Bank research team, Oxford Business Group, Egyptian Businessmen Association (EBA) and AfricInvest wrote an article focused on the economic response of Africa’s three largest economies (South Africa, Nigeria, and Egypt) to Covid-19 and the implications for international Trade and Investment, especially in relation with Europe.
Covid-19 is the world’s largest health pandemic in recent times and will have significant economic ramifications. Last year, the Dutch private sector chose fifteen African countries, including the continent’s three largest economies, to focus on for the coming ten years. The governments of those countries face diverse economic challenges and are addressing them with various fiscal measures, but unfortunately, there is no safety net to speak of for the most-affected citizens. In order for those countries to recover quickly and for the Netherlands and Europe to stay relevant as one of Africa’s key development partners, it is imperative to recognise the following five issues:
1. Africa’s private sector is key
2. AfCFTA will gain more prominence in continental and regional economic policies
3. Remittances as a stimulant for recovery, growth, and development
4. Need for stronger regional currencies and better monetary policies 5. the Netherlands and Europe need to unlearn the old, and learn new ways to deliver aid and partner in trade
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