The inflation ravaged the southern African countries. The countries are facing a severe shortage of foreign currency. In Harare, the capital of Zimbabwe, hundreds of people were found sleeping in queues with no social distancing. Reportedly, people were waiting to have some food. Reportedly, a person said, “Yes, I have heard of the new variant, but it can never be worse than having nothing to eat at home right now.”
Many people were standing outside a currency exchange office to have some money to celebrate festivals with their families. The new variant and surge in covid cases threatened the very survival of millions of people who have already been driven to the edge by a pandemic.
In August, bureaux de change was allowed in the country. Selling of foreign currency to individuals at a favorable rate was allowed. The decision was taken in order to promote financial inclusion and access to foreign currency for low-value transactions. Reportedly, the government-imposed exchange rate for the US dollar is currently about half the black market rate.
The United Nations Economic Commission on Africa noted in March that about 9 in 10 of the world’s extremely poor people live in Africa. The commission further said that if the impact of the pandemic is not limited by 2021, then 59 million more people could suffer the same fate.
The World Bank also estimates the economy of Africa. Reportedly, the economy went from 2.4% growth in 2019 to a 3.3% contraction in 2020 due to covid-19. Now, the covid-19 situation affected the people more. Some people are finding it hard to purchase food.
Senegal's ruling Pastef party has won a resounding victory in the legislative elections, taking130 of the 165 seats in parliament,…
Gaza’s hunger crisis is not only statistic, but a set of narratives such as Yasmin Eid, amother of six, who…
The government of Kenya announced that it is looking into the suspected kidnapping ofKizza Besigye, a well-known opposition politician from…
A team of 80 security agents tasked with protecting the electricity grid was ambushed onMonday in Shiroro, Niger State, by…
Cryptocurrency becomes the new thing in Africa. People shift for stable alternatives aftertheir unstable local currencies. Many people believe Donald…
UAE has also distributed 30,000 food baskets to Sudanese refugees in Kiryandongo refugeecamp Uganda to benefit nearly 100,000 affected people.Aid…
This website uses cookies.