Key Messages
- domestic product (GDP) for the continent is projected to contract.
- Comparative value chain analyses show some similarities: adaptation includes shifting manufacturing towards the production of personal protective equipment (PPE).
- The shutdown of pharmaceutical manufacturing facilities in India and China, increased prices of raw materials and export restrictions imposed by other countries have exposed Africa’s vulnerabilities. There is a renewed focus on boosting intra-regional trade in the pharmaceutical sector.
- Covid-19 has strengthened the case for developing intra-African regional value chains and unlocking the continent’s business potential through the African Continental Free Trade Area (AfCFTA).