This archive report was first published on 23 April 2020.
Africa's Economic Collapse: A Silver Lining Amidst the Pandemic ¶
By Aidan Hartley, published on April 23, 2020
As the world grapples with the COVID-19 pandemic, Africa is bracing for an economic collapse that could have devastating consequences for its 1.2 billion people. The continent's economy is heavily reliant on tourism, mining, and exports, which are all being severely impacted by the pandemic.
Kenya, a top flower exporter, is particularly vulnerable to the economic downturn. The country's flower industry, which was worth over $1 billion in 2019, is expected to collapse in the coming months. This will have a ripple effect on the economy, leading to job losses and a decline in living standards.
However, amidst the chaos, there may be a silver lining for the continent. As people struggle to cope with the economic downturn, they may turn to traditional ways of living, such as farming and self-sufficiency. This could lead to a renewed focus on local economies and a reduction in reliance on foreign aid.
Kenya's economic analyst, Aly-Khan Satchu, has warned that the continent's debt-laden economies are on the brink of collapse. 'Sub-Saharan countries have gorged on borrowing and balance sheets are maxed out,' he said. 'It's biblical.'
As the pandemic continues to spread, it is clear that Africa will be left to fend for itself. The UK's decision to focus on beating the virus at home has left many Africans feeling abandoned. However, this could also be an opportunity for the continent to take control of its own destiny and build a better future for itself.
As the Arab rulers of Sudan shut down the pipeline that traverses its territory towards the Red Sea, pumping crude oil production from its southern neighbour, South Sudan, people across Africa will struggle by on the land, relying on extended family relationships. Unless there is a dramatic reordering of the system, some states will fail, swept away in urban uprisings and fresh civil conflicts.
It's time to abolish or reform the edifice of international aid that has propped up this kleptocracy for decades — the racket run by UN agencies and leftist charities like Oxfam. Covid-19 is the Chernobyl moment for bad regimes and badly managed aid programmes in Africa. Pestilence heralds a time of change more dramatic perhaps than any since the colonial scramble for Africa.
