Page 8 - The Nile Explorer Magazine 011

Opinion & Views

Prof. Landry Signé, Ph.D. City of Nairobi

The economic resilience of African

countries offers a template for growth in

a post-Covid-19 era

s Africa braces for ahead-on countries with relatively steady have shown their resilience to
Acollision with coronavirus economic performance over the previous global economic shocks
with the World Bank announcing past two decades. This group over the past two decades, and
recession in 25 years, the includes fast growers such as since they are not oil exporters,
continent can eventually look Rwanda and Ethiopia, and they will be less affected by the
forward to many post-Covid-19 slower but relatively consistent oil-price war. Even a slower but
recovery and growth narratives. growers such as Morocco. Barring relatively consistent grower such
Public and private leaders should exceptional circumstances, as Morocco has the potential to
draw on past experiences to this group of countries appears be highly resilient in the post-
face the economic challenges of best prepared for strong post- Covid-19 era.
Covid-19. Covid-19 economic performance. In fact, in addition to its

Over the past decade, Africa has Leaders in Rwanda and Ethiopia broader economic resilience—
been one of the fastest-growing have increasingly implemented demonstrated by its ability to
regions in the world. Back in 2008, pro-growth policies, improving handle other global shocks—and
the continent was largely able to ease of doing business and its relatively diversified economy,
avoid the worst of the negative governance effectiveness, as well the Moroccan health care system
effects of the financial crisis, and as relations with international is also one of the most efficient
with sufficient support, it will do donors and global investors—all in the world(TOP 50 globally).
the same with the Covid-19 crisis. of which are likely to unlock these Furthermore, in the face of the
nations’ post-Covid-19 economic virus, its leadership has been one
However, there are going to be potential. Apart from a slight of the most proactive in Africa,
wide disparities in the growth regression in 2002, since 2000, adopting the most restrictive
rates and performances of Ethiopia has grown at a steady measures to contain Covid-19
African countries. In exploring rate of about 7% or higher until while also investing in the broader
these disparities, three groups of recently, and it was barely affected economy.
countries are going to emerge: by the 2008 crisis. The second group comprises
The first group comprises The economies of the fast growers countries such as Côte d’Ivoire and

8 | The Nile Explorer 011