| Country | Population size | Number of SMEs | Measures | |
Nigeria | 195.9 million | 41.5 million | On March 18, Nigeria’s central bank pledged N1000bn ($2.7bn) to support manufacturing and other key sectors of the economy to counter the outbreak. As part of the package, the bank provided a N100bn loan to health authorities An additional N6.5bn ($18m) has been distributed for testing kits, opening isolation centers and training medical personnel. A grant of N10bn ($28m) has been released to Lagos state to bolster its capacity to contain the outbreak. | |
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South Africa | 57.7 million | 2.1 million | On May 21, the government announced a R500bn ($26bn) package, which included increases in welfare grants, funds for protecting jobs and a R200bn loan guarantee scheme for pandemic-hit businesses The central bank reduced the policy rate by 100 bps to 5.25% on March 19, another 100 bps to 4.25% on April 14, and then 50 bps to 3.75% on May 21. |
Sources: International Monetary Fund, Institute of International Finance, official data, news sources
