By Kay Ugwuede
Global markets are in turmoil. And technology startups in emerging markets will feel the brunt of the crisis that will ensue during and when the pandemic blows over.
According to a Stears Business report, simultaneous demand and supply shock stemming from the closure of whole countries and their industries especially in global economic powerhouses like China will have ripple effects that will be felt across the world. In China, between January and February, industrial output fell by a record 13.5%1, retail sales fell by 20.5% and investment dropped by nearly 25%.
Unemployment hit a record high of 6.2% similarly seen in the United States where unemployment has risen sharply from 3.5% in February to 17% by the end of March.
While it is unclear what this lockdown will mean for economies in Africa, global economic indices are already spelling the magnitude of trouble last seen after the World Trade Center attacks.
StartupSouth, in light of these uncertainties, organised a virtual conference on Monday bringing together key business and technology stakeholders to discuss what this means for entrepreneurs and investors and how they can adapt to survive the times. As Ojoma Ochai, Director, Programmes at British Council put it, Click here to read entire article
Source:: Tech Cabal