With robust mining and manufacturing sectors, Southern African countries are considered the most industrialised in Sub – Saharan Africa. Therefore, the impact on regional economies as a result of Covid-19 has varied depending on the prevalent sectors in each economy. For example, as global economic growth stalls, demand for safe-haven assets such as gold has surged and has greatly benefited gold traders in South Africa. Whilst as prices of copper and diamonds have trended down, Zambia and Botswana’s economies have struggled respectively. On a more positive note, with most regional economies being net oil importers, the rapid fall in oil prices is likely to ease the pressure on many economies.
4 years ago