The adverse effect of the new Covid-19 variant on production activities and the business world as a whole has put manufacturers in great fear as the Omicron variant continues to spread rapidly.
Since the global pandemic last year, some parts of China are yet to open up thereby putting a pause in production activities in countries that depend on China for production.
The spread of the new variant, if not promptly curtailed, will affect the manufacturers as they are yet to fully recover from the hit of last year’s pandemic.
Experts believe that businesses will enjoy a seasonal boost in December. Due to the festive period, demand for products and services will increase significantly.
Reverse is the case for manufacturers as they’ve expressed concern that the new variant came at a crucial time when demand for products should increase but its arrival has caused restrictions into countries which in turn will affect supply cum distribution of manufacturing spare parts and raw materials as well as finished goods.
The new variant is fast making impacts on the world as individuals, organizations and countries are trying to put preventive measures in place.
The African Development Bank (AfDB) has postponed its 2021 Africa Investment Forum until further notice owing to the global travel restrictions and it is expected that more poatponements and restrictions would follow.