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By: Thabi Madiba
Africa will need at least $432-billion to address the effects of Covid-19 on its economies and on the lives of Africans — resources it does not have. This was according to African Development Bank President Dr Akinwumi Adesina who spoke during the release of the 2022 African Economic Outlook report. In the last year, Africa’s gross domestic product made a strong recovery, however, the effects of the Covid-19 pandemic, Russia’s invasion of Ukraine and the ongoing war could be medium-term challenges for the continent. The continent’s GDP grew by an estimated 6.9% in 2021, following a pandemic-induced contraction of 1.6% in 2020. The report warned that the effects of the conflict and pandemic could be felt over several years, and at worst, as much as a decade. →