Many African policymakers have further eased coronavirus-related restrictions in recent weeks, but there are signs that economic recoveries have stalled at the start of Q3. High-frequency data from South Africa, where Covid-19 cases surged in July, give cause for concern. But the rebound in activity appears to have hit a wall elsewhere too, including in Ghana. Nigeria seems to be one exception, although we think that weakness in the oil sector will catch up with the rest of the economy soon. What’s more, political headwinds are mounting in many parts of the region. Civil unrest is on the rise in Ethiopia and Côte d’Ivoire, and concern over lack of progress to tackle corruption is driving South African unions to strike.
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