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    At least 3 kg of food grown in Mozambique’s fields is lost due to inefficient processing, transportation, and storage-World Bank

    A change to hotter conditions is a looming challenge in the agricultural sector in the Southern African region

    AfDB commits $10 billion to fight food insecurity

    AfDB commits $10 billion to fight food insecurity

    Natafim SA expands drip-line manufacturing plant

    Natafim SA expands drip-line manufacturing plant

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Farming in South Africa; Six Things That Need Urgent Attention in 2023

    Farming in South Africa; Six Things That Need Urgent Attention in 2023

    Macfrut 2023,Turkey to participate in International Blueberry Days

    Macfrut 2023,Turkey to participate in International Blueberry Days

  • Africa
    AfDB commits $10 billion to fight food insecurity

    AfDB commits $10 billion to fight food insecurity

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Africa’s new agriculture pledge on the cards

    Africa’s new agriculture pledge on the cards

    Agricultural machinery: High demand on the world market

    Agricultural machinery: High demand on the world market

    EIMA International 2022, a Global Event Returns

    EIMA International 2022, a Global Event Returns

    2026 declared World Year of Pastoralism

    2026 declared World Year of Pastoralism

  • Company
    Norway pledges to build resilience of small aquaculture farmers in East and Southern Africa

    Norway pledges to build resilience of small aquaculture farmers in East and Southern Africa

    Tropical Cyclone Ana: WFP ready to provide food and logistics support for rescue and relief operations

    Tropical Cyclone Ana: WFP ready to provide food and logistics support for rescue and relief operations

    Mozambique authorities seek to combat biodiversity devastation by clamping on illicit fishing

    Mozambique authorities seek to combat biodiversity devastation by clamping on illicit fishing

    World Bank, UN launch programme to help Mozambique improve forestry management

    World Bank, UN launch programme to help Mozambique improve forestry management

    Basis of the Nampula economy calls for a re-orientation of efforts towards the most profitable cash crops, Says Nyusi

    Basis of the Nampula economy calls for a re-orientation of efforts towards the most profitable cash crops, Says Nyusi

    Sporadic rains worry Zambezi farmers

    UN announces US$1.2mln animal health programme for Mozambique

  • International
    Macfrut 2023,Turkey to participate in International Blueberry Days

    Macfrut 2023,Turkey to participate in International Blueberry Days

    First Special Agriculture Industrial Zone launched in Mozambique

    EIMA 2022: Unlocking the growth potential of Africa’s Agribusiness

    Agricultural machinery: High demand on the world market

    Agricultural machinery: High demand on the world market

    Italian industry Growing Turnover despite the Economic Situation

    Italian industry Growing Turnover despite the Economic Situation

    EIMA International 2022, a Global Event Returns

    EIMA International 2022, a Global Event Returns

    African women playing a critical role in local economic development

    Lusophone countries benefit from Africa Investment Forum

  • Markets
    It is through collective efforts and pursuit of mutual agreements and regional approaches and strategies that SADC can fully address national and intercountry investments on agriculture

    It is through collective efforts and pursuit of mutual agreements and regional approaches and strategies that SADC can fully address national and intercountry investments on agriculture

    Africa’s local ownership drive must balance foreign investment

    President Nyusi reminds investors of the agricultural opportunities available in Mocuba District

    Russia-Ukraine war poses upsides risks on African agriculture: Economist

    Russia-Ukraine war poses upsides risks on African agriculture: Economist

    Mozambique Fisheries on high vigilance following outbreak of fish disease in Malawi

    Mozambique Fisheries on high vigilance following outbreak of fish disease in Malawi

    Govt’s initiative to boost cotton and cashew income

    Govt’s initiative to boost cotton and cashew income

    Maize planter calibration to improve your profitability

    Maize planter calibration to improve your profitability

  • Equipment
    IMPROVING WATER QUALITY TO ENSURE SUCCESS OF BROILER BUSINESS

    IMPROVING WATER QUALITY TO ENSURE SUCCESS OF BROILER BUSINESS

    AWARD targets to improve African smallholders’ livelihoods

    AWARD targets to improve African smallholders’ livelihoods

    Agricultural machinery: High demand on the world market

    Agricultural machinery: High demand on the world market

    African women playing a critical role in local economic development

    Lusophone countries benefit from Africa Investment Forum

    President Nyusi excited about the prospects the new vegetable oil factory brings

    President Nyusi excited about the prospects the new vegetable oil factory brings

    Russian company to make a humanitarian fertilisers shipment to Africa

    Russian company to make a humanitarian fertilisers shipment to Africa

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  • News
    • All
    • Crops
    • Diary
    • Fresh Produce
    • Game & Wildlife
    • Livestock
    At least 3 kg of food grown in Mozambique’s fields is lost due to inefficient processing, transportation, and storage-World Bank

    A change to hotter conditions is a looming challenge in the agricultural sector in the Southern African region

    AfDB commits $10 billion to fight food insecurity

    AfDB commits $10 billion to fight food insecurity

    Natafim SA expands drip-line manufacturing plant

    Natafim SA expands drip-line manufacturing plant

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Farming in South Africa; Six Things That Need Urgent Attention in 2023

    Farming in South Africa; Six Things That Need Urgent Attention in 2023

    Macfrut 2023,Turkey to participate in International Blueberry Days

    Macfrut 2023,Turkey to participate in International Blueberry Days

  • Africa
    AfDB commits $10 billion to fight food insecurity

    AfDB commits $10 billion to fight food insecurity

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Africa’s new agriculture pledge on the cards

    Africa’s new agriculture pledge on the cards

    Agricultural machinery: High demand on the world market

    Agricultural machinery: High demand on the world market

    EIMA International 2022, a Global Event Returns

    EIMA International 2022, a Global Event Returns

    2026 declared World Year of Pastoralism

    2026 declared World Year of Pastoralism

  • Company
    Norway pledges to build resilience of small aquaculture farmers in East and Southern Africa

    Norway pledges to build resilience of small aquaculture farmers in East and Southern Africa

    Tropical Cyclone Ana: WFP ready to provide food and logistics support for rescue and relief operations

    Tropical Cyclone Ana: WFP ready to provide food and logistics support for rescue and relief operations

    Mozambique authorities seek to combat biodiversity devastation by clamping on illicit fishing

    Mozambique authorities seek to combat biodiversity devastation by clamping on illicit fishing

    World Bank, UN launch programme to help Mozambique improve forestry management

    World Bank, UN launch programme to help Mozambique improve forestry management

    Basis of the Nampula economy calls for a re-orientation of efforts towards the most profitable cash crops, Says Nyusi

    Basis of the Nampula economy calls for a re-orientation of efforts towards the most profitable cash crops, Says Nyusi

    Sporadic rains worry Zambezi farmers

    UN announces US$1.2mln animal health programme for Mozambique

  • International
    Macfrut 2023,Turkey to participate in International Blueberry Days

    Macfrut 2023,Turkey to participate in International Blueberry Days

    First Special Agriculture Industrial Zone launched in Mozambique

    EIMA 2022: Unlocking the growth potential of Africa’s Agribusiness

    Agricultural machinery: High demand on the world market

    Agricultural machinery: High demand on the world market

    Italian industry Growing Turnover despite the Economic Situation

    Italian industry Growing Turnover despite the Economic Situation

    EIMA International 2022, a Global Event Returns

    EIMA International 2022, a Global Event Returns

    African women playing a critical role in local economic development

    Lusophone countries benefit from Africa Investment Forum

  • Markets
    It is through collective efforts and pursuit of mutual agreements and regional approaches and strategies that SADC can fully address national and intercountry investments on agriculture

    It is through collective efforts and pursuit of mutual agreements and regional approaches and strategies that SADC can fully address national and intercountry investments on agriculture

    Africa’s local ownership drive must balance foreign investment

    President Nyusi reminds investors of the agricultural opportunities available in Mocuba District

    Russia-Ukraine war poses upsides risks on African agriculture: Economist

    Russia-Ukraine war poses upsides risks on African agriculture: Economist

    Mozambique Fisheries on high vigilance following outbreak of fish disease in Malawi

    Mozambique Fisheries on high vigilance following outbreak of fish disease in Malawi

    Govt’s initiative to boost cotton and cashew income

    Govt’s initiative to boost cotton and cashew income

    Maize planter calibration to improve your profitability

    Maize planter calibration to improve your profitability

  • Equipment
    IMPROVING WATER QUALITY TO ENSURE SUCCESS OF BROILER BUSINESS

    IMPROVING WATER QUALITY TO ENSURE SUCCESS OF BROILER BUSINESS

    AWARD targets to improve African smallholders’ livelihoods

    AWARD targets to improve African smallholders’ livelihoods

    Agricultural machinery: High demand on the world market

    Agricultural machinery: High demand on the world market

    African women playing a critical role in local economic development

    Lusophone countries benefit from Africa Investment Forum

    President Nyusi excited about the prospects the new vegetable oil factory brings

    President Nyusi excited about the prospects the new vegetable oil factory brings

    Russian company to make a humanitarian fertilisers shipment to Africa

    Russian company to make a humanitarian fertilisers shipment to Africa

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Countries with sizeable agriculture sectors and low exposure to tourism set to recover quicker from covid-19 economic crisis-Economists

Ian by Ian
November 30, 2020
in Africa, Editor picks, International, News
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Countries with sizeable agriculture sectors and low exposure to tourism set to recover quicker from covid-19 economic crisis-Economists
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Economists at the International Monetary Fund (IMF) and Renaissance Capital are projecting that countries with sizeable agriculture sectors and low exposure to tourism will recover quicker from the economic crisis fuelled by the pandemic.

African countries that heavily depend on the tourism industry face a difficult recovery period after Covid-19, which continues to wreak havoc on global economies.

According to the IMF, the largest impact of the Covid-19 crisis on economic growth has been for tourism-dependent economies such as Mauritius, Seychelles, Cabo Verde, Comoros and the Gambia although commodity-exporting countries have been hit hard as well.

For tourism-dependent economies, the sector represents about 18 per cent of gross domestic product (GDP) on average and plays a crucial role in supporting livelihoods, and makes up about 25 per cent of total employment.

Tourism is also an important source of fiscal revenue, making up 18 per cent of income in Seychelles; while foreign exchange averaged more than 46 per cent of export receipts.

Despite a global recovery across many sectors, tourist inflows are not expected to return to 2019 levels until 2023.

“Growth in more diversified economies will slow significantly, but in many cases will still be positive in 2020,” the IMF said in its Economic Outlook report for sub-Saharan Africa released in October.

“Oil exporting countries have also been hit hard, with an average contraction in 2020 projected at negative four per cent, while non-oil commodity exporters are expected to contract by negative 4.6 per cent.”

Growth in more diversified economies such as Côte d’Ivoire and Rwanda will slow significantly, but will still be positive in 2020.

“We think the Kenyan economy remains on track to grow by 1.5 per cent in 2020 due to agriculture’s strong growth and the easing of Covid-19 restrictions in the second half of the year. We believe significantly lighter restrictions and the unlikely re-imposition of lockdown will support a pickup in growth to 4.2 per cent in 2021,” economists at Renaissance Capital said through their Macroeconomic update report for sub-Saharan Africa dated November 2020.

According to Renaissance, countries with sizeable agriculture sectors, low exposure to tourism and those with fiscal and household buffers will be quick to recover from their economic crises, though downside risks such as political risks in Ethiopia and Zambia and debt sustainability challenges in Angola could dampen the short-term economic recovery in these countries.

According to Renaissance, the agriculture sector, particularly with smallholder farmers not are growing cash crops — cocoa, coffee, cotton, sugar cane or tobacco — will be one of the sectors most insulated from the economic impact of the Covid-19 crisis largely due to the fact that it is not highly integrated with global supply chains and the banking system.

“If a country has good rains and agriculture is a sizeable sector, that economy should see growth in 2020 despite the Covid-19 pandemic,” they said.

The IMF projects that the economy for sub-Saharan Africa could contract by negative three per cent in 2020 and pick up modestly by 3.1 per cent in 2021 buoyed by improvements in exports and commodity prices as the world economy recovers, along with a recovery in both private consumption and investment.

According to the IMF, the resurgence of new coronavirus cases in many advanced economies and the spectre of repeated outbreaks across the African region suggest that the pandemic will likely remain a very real concern for some time to come.

“Nonetheless, amid high economic and social costs, countries are now cautiously starting to reopen their economies and are looking for policies to restart growth,” said the IMF.

“With the imposition of lockdowns, regional activity dropped sharply during the second quarter of 2020, but with a loosening of containment measures, higher commodity prices, and easing financial conditions, there have been some tentative signs of a recovery in the second half of the year.”

The current outlook is subject to greater-than-usual uncertainty and hinges on both the persistence of the Covid-19 shock, the availability of external financial support, and the availability of an effective, affordable, and trusted vaccine.

Other risks include political instability or the return of climate-related shocks, such as floods or droughts.

According to the IMF, limited resources will mean that policymakers aiming to rekindle their economies will face some difficult choices as both fiscal and monetary policies will have to balance the need to boost the economy against the need for debt sustainability, external stability, and longer-term credibility.

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