- King Mohammed VI has instructed the Moroccan government to create a special fund to address the novel coronavirus (COVID-19) pandemic. The fund, worth more than USD 1 billion, will cover the costs of upgrading medical infrastructure and additional means to be acquired in the event of an emergency. It will also serve to support the national economy, particularly sectors vulnerable to shocks induced by the COVID-19 crisis, such as the tourism industry, as well as to preserve employment and mitigate the social repercussions of the epidemic.
- The number of visas on arrival issued at the Murtala Muhammed International Airport, Lagos in the last one month has dropped drastically due to the global outbreak of coronavirus, which has reduced foreign trips.
- The National Confederation of Tourism (CNT) has proposed measures to help businesses in the tourism sector overcome the economic impact of the novel coronavirus (COVID-19). The president of the CNT, Abdellatif Kabbaj, said that the government could postpone or eliminate social charges as well as give tax reliefs for the entire period of the crisis, among other proposals
- Egypt is reducing energy prices for industrial users and cutting the tax on company dividends, it said on Tuesday, as part of measures to soften the economic impact of the coronavirus, reports Reuters. The coronavirus outbreak threatens to devastate the country’s USD 12.5 billion-a-year tourism industry and could put pressure on revenue from trade, natural gas exports and worker remittances from abroad.
- Players in the tourism industry in Malawi say the spread of coronavirus globally affecting the local tourism industry as business is grounding to a halt due to fears of travel for leisure and business meetings. Department of Tourism director Isaac Katopola said in a written response on Friday that Covid-19 is having a negative impact on the local tourism and travel industry following restrictions on global travel
- Egypt is reducing energy prices for industrial users and cutting the tax on company dividends, it said on Tuesday, as part of measures to soften the economic impact of the coronavirus, reports Reuters. The coronavirus outbreak threatens to devastate the country’s USD 12.5 billion-a-year tourism industry and could put pressure on revenue from trade, natural gas exports and worker remittances from abroad.
- South Africa’s rand fell on Thursday, with even the central bank’s biggest interest rate cut since the global financial crisis unable to drag the currency back into positive territory. The South African economy is already in recession and the pandemic is expected to make matters worse by hurting tourist arrivals and commodity exports to China, an important trading partner. Today the rand is trading at ZAR 17.37 to the dollar, ZAR 20.18 to the pound and ZAR 18.64 to the euro.
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