COVID-19: Over 150 million Africans could become unemployed - Report
- A report by McKinsey & Co shows that about a third of the 440 million jobs in Africa could be negatively affected by the coronavirus
- The report added that between 30 million to 35 million people in that category could be affected by a fall in wages and working hours
- It also raised concerns about Africa's general medical preparedness in combating the coronavirus
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Finding Africa’s Path report by McKinsey & Co has revealed that the outbreak of the coronavirus could negatively affect a third of the 440 million formal and informal jobs in Africa.
The report added that the ongoing lockdown in various African countries could also deprive most people in the informal sector of their daily source of income.
YEN.com.gh understands that between 30 million to 35 million people in that category could be affected by a reduction in wages and working hours.
READ ALSO: 50% of American businesses in Ghana affected by the coronavirus - Report
A Bloomberg report shows that jobs in sectors such as manufacturing, retail and wholesale, tourism, and construction are at risk.
The McKinsey report also notes that the lockdowns could affect global supply chains as well as the prices of several commodities that are exported by countries.
Another key area of concern, per the report, is Africa’s readiness and capacity to provide a medical response to the pandemic.
The continent reportedly has an estimated 20,000 beds in intensive care units which are equivalent to 1.7 ICU beds per 100,000 people
Meanwhile, the World Bank has cautioned African countries against measures such as lockdowns adopted to curb the spread of the coronavirus.
It argued that such measures may work well in advanced countries but may come with challenges in Africa.
For that reason, it went on, it is necessary for African governments to designs systems that would suit prevailing conditions.
READ ALSO: COVID-19: New AU report shows Africa could lose about $500 billion in tax revenue
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Source: YEN.com.gh
