Africa lagged behind the developed world in inclusive finance, but that is rapidly changing as tech hubs spring up across the continent, providing incentives to enterprising start-ups and investors and jobs to talented young workers. The gains are spilling into the wider economy, with tech ecosystems propelling progress and development.
World Trade Organization (WTO)
While COVID-19 continues to harm people in every corner of the world, international practices, such as trade, have the potential to produce a multitude of benefits and support economic recovery from the crisis. But trade depends on the availability of trade finance; today, more than ever before, cooperation between public and private sectors is required to both navigate out of the calamity and rejuvenate top pre-COVID-19 goals such as sustainability.
Instead of prodding countries together to fight a common enemy, the pandemic has in many cases driven nations apart, leading them to insulate themselves from others, thereby threatening years of progress in forging trade partnerships. COVID-19 has exposed many of the inherent weaknesses in the current trade system but also made a strong case for strengthening global connectivity through advances such as digitalization so that all countries can prosper side-by-side.