Covid-19 Sub-Saharan Africa: a study by Harambee highlights the risk of economic recession and increasing ext

29/03/2021 07:09 PM


Covid-19 Sub-Saharan Africa: a study by Harambee highlights the risk of economic recession and increasing extreme poverty

A study by Harambee Africa International shows how, after an impressive annual growth rate of 4, 6% between 2000 and 2018, the cris


A study by Harambee Africa International shows how, After an impressive 4.6% annual growth rate between 2000 and 2018, the health crisis will cause an overall economic recession in the Sub-Saharan region and an increase in levels of extreme poverty.  "The contribution of the private sector in the field of health, education and entrepreneurship for the achievement of the SDGs in the context of the health emergency ” was elaborated by Christian  Descoups, coordinator of Harambee Luxembourg. Research shows that the Covid-19 pandemic will lead, for the first time in twenty-five years, to a recession in the Sub-Saharan continent. unemployment of 5.9% for a total workforce of 422.5 million people. The figure may not seem dramatic but in addition to unemployment, the so-called moderate poverty rate of the population reaches 24.7% and the extreme poverty rate 37.8%. In other words, the eradication of poverty, which before then was a huge challenge, is further complicated by the pandemic in many of the affected countries, ”explains Descoup.

The study reports some relevant concrete cases to illustrate how the private sector (non-governmental organizations, academic institutions and private investors / investment funds) is a necessary partner for the achievement of the Sustainable Development Goals (SDGs) envisaged by the Agenda. 2030, supporting and integrating the programs and actions launched and implemented by the public sector, by multilateral and supranational political bodies, particularly in a post-Covid context 19.

The sectors in question:

- health: the case of Monkole Hospital, a private institution in the district of Kinshasa, in the Democratic Republic of Congo, which offers 100,000 consultations per year;

- education: the case of Strathmore University (Nairobi, Kenya) and Lagos Business School (Nigeria), entrepreneurial training centers of excellence;

- gender equality: the case of the “Guadalupe Scholarship program ” which promote the leadership of African women in scientific research with the aim of strengthening research centers in Africa;

- economic growth and innovation: the case of BackBone (Luxembourg) SA, investor in emerging markets.Through the illustration of concrete cases, the analysis demonstrates how private institutions, placed at the service of people, can effectively contribute to an integral and sustainable development of companies in particularly vulnerable contexts.

It is possible to download the study at this link.

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