According to the African Development Bank, African nations need $424 billion this year to help them cope with the downturns caused by Covid-19. Akinwumi Adeshina, the president of the African Development Bank, said, “We should not minimize the impact of Covid-19 on African economies,” in an interview with Bloomberg. Reports say the pandemic drove 30 million Africans into “extreme poverty.”Below is the Weekly Economic Index from Ventures Africa for the week ending 8th of July, 2022. Top 5 GainersAcademy press plc – +48.82%UPDC Plc – +20.39%Learn Africa plc – +11.11%Caverton offshore support grp plc – +9.91John Holt plc. – +9.76%Top 5 DeclinersR T Briscoe plc.– -22.73%International breweries plc.– -14.29%MRS Oil Nigeria Plc.– -11.08%Conoil plc– -9.90%Union bank Nig.

Source: The North Africa Journal July 11, 2022 06:13 UTC