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Entrepreneurship

right from its downstream and upstream effects. The most African countries to mobilise financial resources
choice is yours but you must shift your resources to address these unforeseen requirements though
quickly and carefully and of course with expert advice or necessary and can’t be avoided. The coronavirus has
guidance knowing that this opportunity is similar to that proven to have a double-edged sword effect in the sense
of a seasonal type of business. that it hits both the economy and the social lives of our
society. Therefore, unlike the more developed countries,
In addition, the coronavirus also offers an opportunity most African countries will definitely have difficulties to
for you to become an instant American Dollar appropriately compensate their businesses or citizens
millionaire, that is, if you have some monies to buy as a result of the unique but seemingly fashionable
shares on the stock markets around the world because response measures (i.e. lockdown) in a bid to stop the
during this period, most share capital could be trading at spread of coronavirus.
record low levels. This is the time – believe me!
Observably, the developed countries may possess
The coronavirus is a good test for the economic strength relatively stronger adjustment to economic shocks to
of individual countries because each nation has to live absorb the unavoidable and instantaneous negative
within its resources and capabilities as they institute effects of the coronavirus, but, most African countries
unilateral robust and restrictive measures targeting may not and the virus may leave an indelible foot-print
marginal propensity to interact by human beings that may last decades to unmark. It is, therefore, for this
including businesses. This is the time for countries to reason that it has been said that developed countries
utilise their existing reserves in order to sustain such are effecting unilateral response measures based on
measures and this applies even to businesses in terms their capabilities and approach without seeking help
of realigning their savings and investment portfolios. from external efforts. However, this is not likely to be
the case for most African countries whose economies
The question is, “how long can a country or business are fragile and would obviously need support from
entity sustain this unforeseen situation where external partners or bodies such as the World Health
transactions are curtailed?” Note that the emergence Organization (WHO), African Union (AU), World Bank,
of the coronavirus was unprecedented, has no known IMF, as well as the developed countries themselves.
cure so far and its economic adverse effects have no Certainly, Africa needs support from partners to be able
prescribed economic policy stabilisation. Henceforth, the to minimize the spread and effects of the coronavirus.
measures being applied by individual countries are an
adoption of a common present response by others and/ Africa could also use this opportunity to establish a
or trial and error with a view to negate the rapid spread continental medical research and microbiology Institute
of the virus across the globe, between countries, within to innovate and discover cures and or treatments for
nations, communities as well as between individuals most diseases affecting its citizens and the world at
alike. large. This is the time for Africa to play an active role in
global health research!
Most African countries are likely to face difficulties in
effectively responding to the coronavirus because of Written by
weak health or medical infrastructure and human capital
including a lack of capacity to acquire the required Kelvin Kamayoyo
medicines. This pandemic requires urgent response and Economist & international
concerted efforts. However, it may be challenging for Trade Expert, Zambia

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