‘COVID-19 will leave indelible mark’

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Tiri Masawi

Windhoek - The COVID-19 pandemic will leave an indelible dent on the economy and the socio-political life of Africa and Africans, African Capacity Building Foundation (ACBF) executive secretary Professor Emmanuel Nnadozzie has said.

In a statement Monday, Prof Nnadozzie said the ACBF had developed innovative ways of providing services to the continent in an environment of reduced economic activity and heightened threats to human life.

“… the ACBF has devised innovative ways of doing business. This notwithstanding, the demand for our services remains huge, especially in light of the COVID-19-induced challenges facing African countries and their institutions. Financial resources remain a challenge due to their insufficiency, unpredictability and unsustainability. 

“We are continuously grateful to our member states and partners for their support and call on them to continue investing in their Foundation. This support is critical now more than ever, as COVID-19 continues to threaten the gains made towards the realisation of Agenda 2063,” he said.

Citing statistics from the African Development Bank, Prof Nnadozzie said the continent faced an estimated loss of GDP of between US$22 billion and US$88 billion.

He said the pandemic had decimated value chains in Africa, adding: “There is also a reduction in financial flows in terms of investment and diaspora remittances. Foreign aid and tourism have been hit hard because of the travel bans and lockdowns put in place by various governments to curb the spread of the coronavirus.”

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