Business daily

Africa's private sector has 'significant' role in combatting Covid-19

BUSINESS DAILY
BUSINESS DAILY © FRANCE 24

The Covid-19 pandemic is pushing Africa into its first recession in a quarter of a century, with GDP forecast to shrink by up to 5 percent. The World Bank's private sector arm, the International Finance Corporation, has outlined a $1.5 billion facility for Africa's business community, with a focus on small and medium sized companies. Sergio Pimenta, Vice President for the Middle East and Africa of the IFC, tells FRANCE 24 that those firms in turn have a "significant" role to play in combatting the virus.