
Intra-African trade could help mitigate impact of Covid-19 on Nigeria, others
With Africa’s major trading partners suffering from the unfolding coronavirus crisis, the United Nation Economic Commission for Africa (ECA), has stated that the situation presents an opportunity for African countries to deepen continental trade as the continent’s trade partners struggle to contain effect on their economies.
The UNECA warned the unfolding coronavirus crisis could seriously dent Africa’s already stagnant growth with oil exporting nations losing up to $65 billion in revenues as crude oil prices continue to tumble.
ECA Executive Secretary, Vera Songwe, said having already strongly hit Africa’s major trading partner, China, COVID-19 was inevitably impacting Africa’s trade.
She said although a few COVID-19 cases have been reported in some 15 countries far, the cris...