WTO Director-General Ngozi Okonjo-Iweala The World Trade Organization’s first African—and first female—director-general reflects on the impact of the pandemic on trade, the imperative to ensure that vaccines reach Africa and other emerging economies, and how to ensure that trade is more inclusive in the years ahead. In this episode of the McKinsey Global Institute’s Forward Thinking podcast, guest
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Leaders in the public, private, and development sectors have been quick to act—both to limit the spread of the pandemic and to safeguard economies and livelihoods in Africa. Several African countries have already acted to inject liquidity into their economies, reduce interest rates, help businesses survive the crisis, and support households’ economic welfare—in many cases
COVID-19 will greatly reduce Africa’s GDP growth in 2020 As of March 31, more than 720,000 cases of COVID-19 had been recorded worldwide, with nearly 40,000 deaths. The number of cases, and deaths, has been growing exponentially. Compared to other regions, the number of recorded cases in Africa is still relatively small, totaling about 5,300
An unfolding health and economic crisis that demands bold action__ By Kartik Jayaram, Acha Leke, Amandla Ooko-Ombaka, and Ying Sunny SunOpen interactive popup. The COVID-19 pandemic is primarily a health crisis and a human tragedy, but it also has far-reaching economic ramifications. In Africa, it is already disrupting millions of people’s livelihoods, with disproportionate impact on poor households
Africa has so much promise. The continent is home to some of the world’s fastest growing economies and offers an exciting frontier for businesses looking for growth and new markets. And yet, persistent gender inequality is limiting its potential. Pockets of good news do exist, but they tend to be success stories for women at the
Decision makers should not assume the worst. Less than ten weeks have passed since China reported the existence of a new virus to the World Health Organization. This virus, now known as SARS-CoV-2, causing COVID-19 disease, spread quickly in the city of Wuhan and throughout China. The country has experienced a deep humanitarian challenge, with more
The advance of technologies such as machine learning, artificial intelligence, and advanced robotics will have a far-reaching impact on South Africa’s workplaces. Although digitisation will be disruptive, it has the potential to raise productivity and operational efficiency in businesses across sectors, to deliver better outcomes for both customers and citizens, and to create millions of high-quality
Africa’s booming e-commerce sector can not only jump-start small businesses but also help large companies enter a market full of energized consumers. Africa has one of the most digitally connected populations on the planet, with 400 million internet users. Sacha Poignonnec, cofounder and co-CEO of Jumia, Africa’s largest internet group, discusses why the e-commerce opportunity in
If we get infrastructure right, if we get energy right, and if we create a lot of jobs for Africa’s youthful population, I think we’ll have a new dynamism, a new growth process. Not just in GDP, because people don’t eat GDP. But one that’s actually impacting the lives of people and can lift hundreds of millions of people out of poverty.
Solving Africa’s Infrastructure Paradox
McKinsey On COVID-19
The coronavirus outbreak is first and foremost a human tragedy, affecting hundreds of thousands of people. It is also having a growing impact on the global economy. While business leaders are working to get a perspective on the evolving situation and the implications for their companies, they are only as strong as the communities of which they are a part. As decision makers figure out how to support response efforts—such as by providing money, equipment, or expertise, they should not assume the worst.