The outbreak of the virus has cast a dark shadow upon states around the world with various sectors such as tourism and travel taking serious hits. The situation is fluid and uncertainty still looms on its ramifications as new headlines break daily. Further transmission and evolution of the virus remains difficult to predict. The UK, China and USA stock markets have seen the highest decline since the Financial crisis of 2008 the above industries have been greatly affected as has been occasioned as investors are pulling out in large numbers.
It can be said that it is still premature to assess the current impact of the pandemic, but considering its novelty, it is prudent to be cautious and stay on alert. Globally, investors and businesses have adopted a wait-and-see approach.
With Africa getting the latest blow and Kenya recording its first COVID-19 case on 13th March 2020, it disproves the hypothesis that Africans cannot contract the virus.
In this Alert, we highlight the worst-hit areas of our economy, which include Contractual obligations, Finance and Technology, Immigration and Dispute Resolution. We, however, propose possible gains and opportunities that present themselves even amidst all the chaos and proposed way forward. We hope that you will be able to read and interact with us on how best we can manage this pandemic and emerge even better than before when the dust settles.1584515052Client-Alert-TRIPLEOKLAW-ADVOCATES-LLP-Impacts-of-the-Covid-19-Pandemic-on-Key-Economic-Areas
Managing Partner and Co-Head of Dispute Resolution