Financial Impact of the Corona Virus Pandemic: January - June 2020

Malawi was hit hard in the business sector in the first half of the year 2020 due to the pandemic of corona virus, on 22nd March there was a declaration of national disaster, partial lock down was implemented, borders were closed this affected local businesses since Malawi mostly depends on international business for the supplies of the local businesses as well as exports which affected the availability of foreign currency. A study was made to find out the financial impacts of covid 19 in MalawiThere was fear of unknown, a new experience of working from home made many to lose jobs, most job performances went down, many companies had retrenched there employees there was a comparative advantage of other businesses than others, food items, hospital services, surgical medical sundries as well as telecommunication industry to mention a few had a greater advantage than others, most businesses went stagnant others even died. The product cycle of businesses got affected, as it is from introduction to termination many were affected psychologically with fear of unknown which increased cases of suicides especially men.

Autorentext

Patricia Singini está cursando un doctorado en estudios de desarrollo a nivel de investigación en la Universidad Azteca, tiene una maestría en Orientación y Asesoramiento. Es científica, investigadora, supervisora de investigación, estratega del desarrollo, orientadora y consultora. Es la directora de Ticia Holdings.