Ebola virus: Imminent danger to banks, investments

Wednesday, August 27, 2014
By Paul Martin

Tribune.com.ng
27.Aug.2014

The last few weeks have seen a range of factors causing panic in investment markets across Africa. Latest worry to investors is the Ebola Virus Disease (EVD) outbreak.

Though experts in the field of Medicine are optimistic that cure for the disease will soon be found, there are concerns that the fear of EVD may linger, long after its cure and preventive measures have been found.

At the moment, economic experts are already compiling immediate and future effects it is having, and will have on investments and returns thereof.

The Chief Executive Officer, Financial Derivatives Company (FDC) Limited, Mr. Bismarck Rewane said Nigerian economy risks losing over $3.5billion (circa N542.5bn) to the epidemic by December this year, if nothing is done to contain the spread. The firm in its recent report, said the sectors that will be impacted the most in Nigeria are aviation, hospitality and tourism, trade, medical and agriculture.

This is even as experts in the Maritime sector have raised concern that Containers volume has dropped slowly as container ships have reduced to 16 this month from July’s 26, indicating 38.4 per cent drop and from the average of 31 to 16 as total number of ships laden with containers expected this August. This also represents a difference of whopping 48.4 per cent. The 2014 Ebola outbreak is adjudged the worst to date affecting Guinea, Sierra Leone, Liberia and Nigeria. As of August 13 there were 2127 cases and 1,145 deaths although this likely understates the true position.

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