Zemedeneh Negatu, Global Chairman of the Fairfax Capital Fund, speaks to COVID-19 Africa Watch about how the pandemic has changed the investment environment in Africa, and how the continent and Ethiopia, in particular, have responded.

Key Takeaways

The following are a few of the main takeaways from COVID-19 Africa Watch’s conversation with Zemedeneh Negatu, Global Chairman of Fairfax Africa Fund:

• Foreign investment appetite will ultimately depend on African private sector sentiment.
• The SDGs are important for the private sector because sustainability means sustained growth, sustained profitability, and increased employment.
• Priorities for business and development partners include infrastructure and investments in young Africans.
• Ethiopia successfully raised hundreds of millions in external financing to respond to COVID-19, while also injecting about $500 in liquidity into the local banking sector.
• Even with limited fiscal space, Ethiopia was able to respond to the pandemic with tax relief for households and businesses.

The interview was conducted by Kopano Bolokwe, an IFC-Milken Institute Capital Market Scholar and head of product development at the Botswana Stock Exchange.