COVID-19 And the african financial markets : Less infection, less economic impact ?

Has the relatively low number of COVID-19 cases and deaths saved Africa from the disease's economic and financial consequences ? This article assesses the impact of the pandemic on the volatility of major African stock markets using a panel data model. Like other financial markets worldwide, Africa's have been characterised by increased volatility during the pandemic. The markets appear to respond to the external shocks caused by the health crisis, and Google search volume activity related to the COVID-19 virus, which is treated here as a proxy for panic and fear, is associated with an increase in market volatility of around 7%.