Friday, April 10, 2020

Africa: A Perfect Storm Brewing

AFRICA

A Perfect, Brewing Storm

Yassin Hussein Moyo, 13, was standing on his balcony in a Nairobi shantytown when a police bullet struck and killed him.
That was because of a violent police crackdown on anyone breaking the country’s dusk-to-dawn curfew, one of the harshest reactions to the novel coronavirus anywhere. He was the third victim of the pandemic – and only one had died of the actual disease.
“The question the community is asking…is why are you sending the police to come to the community with live bullets?” Faith Mumbe Kasina of the Kiamaiko Social Justice Center asked in the Washington Post.
Other Africans are asking the same question. In South Africa, police have cracked down on citizens who violate public health restrictions, often cruelly, forcing them to perform push-ups and other kinds of corporal punishment, Agence France-Presse wrote. Similar brutality has been seen in the Democratic Republic of the Congo.
The lockdowns and crackdowns are harsh. So are the forecasts.
Africa is arguably on its way to buckling under the coronavirus pandemic, some say. The virus was slow to reach the continent, but the numbers of infected are rising steadily – more than 4,300 cases were tallied as of last week across 46 countries – compelling governments to take dramatic actions perhaps because they know they are not well-prepared for the potential catastrophe to come.
In Kenya’s Kibera, one of the largest slums in Africa, measures to combat the virus are hard to adopt. Residents can’t social distance because they live – often three generations of families – in 100-square-foot shacks in densely packed neighborhoods with a few shared toilet facilities, Fast Company reported. They can’t wash their hands easily because clean running water is scarce.
Many Kenyans watch television, see Italy and the US failing to contain the pandemic and wonder how their poor country will cope. Before the coronavirus arrived, Kenya – along with Somalia and Ethiopia – was struggling to stop a plague of locusts, the worst seen in 70 years: It is threatening the food security and livelihoods of 25 million people, CNBC reported.
Meanwhile, much of what’s difficult in Africa in terms of containment measures mirrors the situation of the Ebola outbreak in West Africa between 2013 and 2016, namely culture.
For example, in Ghana, people are crestfallen over prohibitions on funerals, handshaking and congregating at church, the BBC reported. Such moves go against local culture. Mourning is a public, dramatic community experience that drives an entire economy of caterers, tailors, singers, drivers and others. Ghanaians have a saying, “Only enemies refuse to shake hands.” Some churches won’t close. Instead, they are holding prayer ceremonies to banish the virus.
Then there are the fragile healthcare systems with few resources. In Mali, there is an estimated one ventilator per 1 million people – about 20 in all, reported USA Today. Kenya, a country of more than 50 million, has 550 intensive-care beds. Many sub-Saharan nations have few healthcare workers, some have no isolation wards. Few doctors and nurses have safety equipment and their countries, no way to manufacture it. And diagnostic tests? Forget it, says Olaniyi Ayobami, a doctor in Ibadan, Nigeria.
Still, the coming economic crisis in Africa might dwarf the public health nightmare, Quartz wrote. Many African nations depend on the exports of commodities like agricultural goods, metals, minerals and oils. Their prices are plummeting. Others must import goods in US dollars whose value is skyrocketing as their currencies weaken. And they can’t substitute locally made good for many imports easily, or at all.
At the same time, CNBC said that the importance of China to Africa’s bilateral trade, and a slump in Chinese demand, has been a huge hit to African exporters over the past few months.
Meanwhile, a lack of reliable electricity and internet access means few white-collar workers and bureaucrats can work from home.
In Nigeria, like elsewhere, those in the informal economy such as food vendors, cleaners, hairdressers and others earn their living day to day, CNN reported. Lockdowns are preventing them from working. If they don’t work, they don’t eat. Others who are among the 85 percent of Africans who live on less than $5.50 a day are facing similar problems. There is little chance of the type of financial help for them seen in Europe or the US.
“It is hunger I am worried about, not a virus. I even heard it doesn’t kill young people,” Debby Ogunsola told the BBC.
That might be the saving grace of Africa during the pandemic, experts say: The average age of the continent’s population is 20. Most young adults seem to escape the illness or only get mildly sick.
As the pandemic spreads, that’s something to hope for.

Monday, April 6, 2020

Rwanda: The Missing

RWANDA

The Missing

Rwandan authorities discovered the site of a possible mass grave in a valley dam near the capital, believed to contain about 30,000 bodies of victims of the 1994 Rwandan genocide, the Associated Press reported Sunday.
The discovery has been labeled the most significant in years and comes just a few days before the East African nation marks the 26th anniversary of the genocide on April 7.
Officials said the dam was dug years before the genocide. So far, workers have recovered 50 bodies.
Information about the mass grave emerged after perpetrators of the genocide, who are being released from prison after serving their sentences, are offering up new information.
Survivors of the genocide say that there can’t be true reconciliation in the country if many of the convicted conceal information about missing victims.
The Rwandan genocide involved the mass slaughter of Tutsi, Twa and moderate Hutu in 1994 during the Rwandan Civil War. It is estimated that between 500,000 and a million people were killed.

Saturday, February 29, 2020

Jack's Thoughts On The Covid-19 Threat


Dear:
     Your Saturday morning newspaper...things are not nice right now due to Covid-19. Major conferences have been cancelled including a summit for Asian leaders that President Trump was supposed to host here. Amazon has banned employees from flying on domestic and international flights. I'm sure that a lot of other companies all over the world have quietly done the same. We could see travel bans here including South Korea, Italy, and Iran.
     The only hopeful note here is that the Israelis say that they have developed a vaccine against Covid-19:
https://www.sfgate.com/science/article/COVID-19-coronavirus-vaccine-Israel-15093659.php
      The Israelis have an incredible pharmaceutical industry. Let us all hope for the best.
       One disturbing model has emerged. This is just a theoretical exercise, but it is food for thought. As of 2017 we had an estimated 7.53 billion people on earth. As of 2020, I have seen estimates of around 7.8 billion people. In the Coronavirus model that I have seen, some 33.33% of the world's population will be infected. This means that an estimated 2.6 billion people will be infected. The projected fatality rate is 2% of those infected. The number of projected fatalities is 52 million.
    On a personal level, everyone needs to practice good hygiene including washing hands frequently and cleaning areas where you work and live. Avoid crowds and people coughing. Do not travel unless it is an emergency of the highest level. If you must travel, look at buying a seat on a corporate jet as opposed to a commercial airliner. Those of you who are medical professionals are especially at risk.
    The world economy will sink into a recession. You will need to be defensive. Stay invested in cash in a hard currency. Own some gold. Take a look at an ETF that I love called SWAN. It is designed to protect you in the event of Black Swan Event. This epidemic is such an event.

These are trying times!
Be careful out there!


Wednesday, January 29, 2020

Africa: The Next Big Thing

AFRICA

The Next Big Thing

Chinese billionaire Jack Ma is bullish on Africa. The continent has 1.3 billion people. Forty percent are younger than 16. Six of the world’s 10 fastest-growing economies are in Africa. The upside is astronomical.
“Each time I go, I come away more convinced that Africa’s entrepreneurs will write the future of the continent,” the founder of online retailing giant Alibaba recalled in a New York Times opinion piece.
Ma is not alone. Facebook recently touted the latent potential of Africa, claiming to have trained more than 7,000 women-owned businesses on the continent in digital skills, World Politics Review wrote.
Twitter chief executive Jack Dorsey said he would be moving to Africa for as long as six months this year, too. “Africa will define the future (especially the bitcoin one!),” he tweeted from Addis Ababa, according to the Guardian.
Brookings Institution scholar Landry Signé explained how Africa’s economy has slowly but surely developed, leading to more wealth and expanding markets for global goods. Investors have an opportunity to get in on the ground floor, he concluded. Quartz agreed.
Africans are working for a renaissance, too. Nearly 30 countries have ratified the African Continental Free Trade Agreement. In addition to creating a single market of more than one billion people worth $2.5 trillion, the pact will spur reforms in African economies, empowering private business to grow where the state has long wielded too much power and influence, said economist Paul Alaje in an interview with CNBC Africa.
A group of West African countries are also discussing a monetary union centered on a new currency, the eco, which would replace the CFA francs used in a collection of nations in West and Central Africa, CNBC reported. Those efforts are hitting snags as different leaders disagree on the details.
Still, at a time when protectionism has become the rage in Western capitals, Africa’s free trade plans appear to be a triumph for multilateralism, reported Xinhua. The Beijing-based, state-owned news agency’s readers would know that Chinese money has been especially active on the continent, investing in massive infrastructure projects while extracting natural resources.
Writing about Africa’s economic fortunes in the Hill, author K. Riva Levinson chose to highlight the recent revolution in Sudan, where democracy activists successfully ousted an autocrat and forced political change on the government. Sudan shows how, since entrepreneurs alone can’t necessarily fix bad governments, popular movements can, she argued.
Either way, it’s people power.
The Next Big Thing