This webinar covered the response of investment promotion agencies (IPAs) in the East African Community (EAC) and the Southern African Development Community (SADC) to the Coronavirus pandemic and changes induced by the COVID-19 crisis to future IPA operations and strategies. It included presentations by UNCTAD, the EAC and SADC secretariats, IPAs from the region and private sector groups.
The webinar brought together over 90 participants from 18 African countries (see section V). Panelists represented UNCTAD, the secretariats of the East African Community (EAC) and Southern Africa Development Community (SADC) as well as business councils and 9 investment promotion agencies (IPAs) from both regions. It was the second in a series of online events organized by UNCTAD to: (a) promote the exchange of IPA experiences in response to the pandemic; (b) enhance the sharing of best practices; and, (c) provide an opportunity to discuss pandemic-induced changes to future IPA strategies and operations. For a detailed programme, see section II.
The discussion was set against the economic crisis caused by the COVID-19 pandemic, which resulted in declining FDI flows, reduced export earnings, coupled with a reduction of remittances and high debt-to- GDP ratios in several countries in East and Southern Africa. As elsewhere, the regions have been strongly affected by disruptions to cross border trade which has led to difficulty in importing raw materials and inputs, negatively impacting availability and price of essential health and food products.
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