Encouraging news about highly effective coronavirus vaccine trials has brightened Sub-Saharan Africa’s economic outlook. However, the region is facing higher barriers compared to many other parts of the world due to a lack of advance purchase agreements with vaccine manufacturers and poor storage and delivery infrastructure. This will probably delay the widespread rollout of vaccines, although we suspect that restrictions on economic activity will be lifted before herd immunity is achieved. And some indirect benefits – a rebound in commodity prices, a return of tourists, and improved risk sentiment – will start to filter though over the next six months or so.
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