COVID-19 IS CHANGING HOW BUSINESSES OPERATE

In the weeks since Africa recorded its first cases of COVID-19, business activity on and around the continent has been significantly affected in many ways.

In recent years, Tanzania has embarked upon an ambitious industrialization drive, with the goal of transforming the country into a semi-industrial, middle-income country by 2025. The country has worked to build a national economy, with a diverse range of industries and businesses.

The outbreak of the COVID-19 in Tanzania, however, is prompting businesses across multiple sectors to overcome a set of new challenges. In March, many of the country’s hotels announced that they were to temporarily suspend operations.

Meanwhile, the government has also announced plans to postpone the country’s May Day celebrations, as well as other indoor and outdoor mass gatherings, adding that people should remain indoors where possible.

As such, many businesses might choose to suspend non-essential activities such as holding face-to-face meetings or carrying out on-site inspections and audits. These measures might also be considered when making other business decisions in the months ahead.

A good example is the planned initial public offering (IPO) of Tigo Tanzania. Traditionally, IPOs require a significant number of meetings, negotiations and business travel. In these times, it might be wise to postpone the planned IPO to help encourage social distancing, reduce unnecessary travel and to help efforts to slow the spread of the virus.

While many businesses continue to work hard to deliver essential goods and services, now is the time to pause certain activities to help everyone overcome today’s challenge.

Mwanaheri Khamis, 

Unguja, 

17.04.2020.