World Bank: Africa’s MSMEs worst hit by virus

By Lucas Ajanaku

Micro, small, and medium enterprises (MSMEs) took a devastating hit from COVID-19 pandemic with more firms in sub-Saharan Africa axing more jobs as sales took a terrific hit, the World Bank said at the weekend.

According to the bank’s COVID-19 Business Pulse Surveys carried out in partnership with national statistical offices and others, as well as COVID-specific follow-ups to its traditional Enterprise Surveys, firms and workers in every part of the world were affected by the shock of the virus.