03 December 2020
This Week’s COVID-19 Snapshot
The weekly snapshot provides expert insight on the outbreak and its widespread impact. In this edition, we highlight the ongoing economic effects of the virus and ways governments are responding to alleviate the pressure, how the pandemic opens new business opportunities for fintech firms in Colombia and more.
03 December 2020 – South Africa
Predictions:
- Government will likely impose limited lockdowns in Western and Eastern Cape provinces in coming weeks in effort to halt rising COVID-19 cases
- Authorities will seek to limit economic disruption, with any curbs on movement likely permitting travel for work, shopping or emergencies
- Unwillingness to impose stricter measures will see any reduction in COVID-19 cases reversed at start of 2021 due to increase in travel over holiday period
02 December 2020 – Colombia
Predictions:
- Rapid growth of mobile payment apps due to pandemic will reduce financial exclusion and increase opportunities for fintech firms
- Proportion of overall population engaged with formal banking system will grow as result of emergency pandemic pay-outs
- Inequality and poverty will rise due to pandemic and economic downturn, but greater financial inclusion will boost long-term social resilience
02 December 2020 – Turkey
Predictions:
- Erdogan will demonstrate increased commitment to diplomacy and human rights to limit EU and US sanctions threats amid ongoing economic difficulties
- Ankara will not abandon hydrocarbon exploration in eastern Mediterranean, given long-term aims to decrease national reliance on energy imports
- Erdogan could relax pressure on opposition to appease Biden administration, but decisions will be based primarily on domestic political position
27 November 2020 – Nigeria
Predictions:
- Recession highlights continued impact of COVID-19 and low oil demand, with government fiscal pressures unlikely to subside in coming months
- Slight recovery in oil prices will provide short-lived boost to revenues, but worsening COVID-19 outbreaks in key export markets will suppress demand
- Abuja will seek to advance reforms to diversify economy and boost foreign investment, although progress will be slow and dependence on oil industry will continue in coming years
