Contrary to many expectations, African countries have so far succeeded in keeping the corona virus largely under control. Case numbers and mortality rates are relatively low. The World Bank even attests that African countries have used the crisis as an opportunity to push ahead more quickly than before with reforms and investments that are crucial for long-term development.
Nevertheless, the pandemic is also taking its toll on the African continent, in particular by damaging or calling into question the economic livelihoods of millions of people. Furthermore, this year, for the first time in 25 years, Africa is facing a recession. Concerns about a second corona wave are adding to uncertainty. Recent estimates show that COVID-19 could push up to 40 million people in sub-Saharan Africa into extreme poverty. The road to recovery will be long and will vary considerably between economies and sub-regions.
How has the economic situation developed since the beginning of the Covid crisis? What are currently the most important challenges facing German companies operating in Africa? Which measures taken by the respective governments have proved successful? Can regional trends be distinguished? And how is the economic and social situation of the population developing? What assistance from partners in Europe could support companies and the population? These and other questions on the current situation of German companies in Africa were discussed at the Round Table on Economy (online), to which Andreas Lämmel MP and the German Africa Foundation had invited.