Macro Analysis /
Zimbabwe

Zimbabwe: Covid update – riding the wave

  • Global review of vaccinations and Sub-Saharan Africa funding support

  • Zimbabwe vaccine overview, funding support and policy steps

  • Key equity themes for the year and our top picks in Zimbabwe

Tatenda Makoni
Tatenda Makoni

Equity Sales Trader

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IH Securities
26 April 2021
Published byIH Securities

Vaccine rollout

The Medicines Control Authority of Zimbabwe has authorised the use of Sinopharm and Sinovac shots from China, Russia’s Sputnik V and India’s Covaxin. The government has set aside US$100mn for the vaccines to procure around 20mn vaccine doses in order to immunise 60% of the population to attain herd immunity.

As at the 12th of April 234,709 people had received their first dose of the vaccine, while 29,304 received their second dose. The current drive is targeting frontline workers, school teachers, religious leaders, security forces, the elderly, and people with chronic diseases. The vaccines will be rolled out via the same storage, logistics system and infrastructure used for vaccination of childhood illnesses. Most clinics in rural areas have already received the vaccine according to the Ministry of Health. The COVID-19 vaccination programme will also be including other satellite points such as business centres.

Industry Impacts

The second national lockdown was initiated on the 2 nd of January 2021 and lasted until the 2 nd of March 2021 All key sectors of the economy are scheduled for a contraction mainly emanating from supply chain disruptions, demand side shock and closure of access to the large informal sector Sectors that are expected to be the hardest hit include Transport and Distribution, Financial services with higher expected number of non performing loans, Education, Non food manufacturing and ultimately Tourism with an above 90 drop in hotel occupancies

Mining and agriculture proved to be resilient to the pandemic as they were awarded essential services status Sectors that benefited from the pandemic included ICT and telecoms, health and foodstuffs manufacturing.

See our 22-page report for more.