This study examines
the impact of the COVID-19 pandemic on selected Sub-Saharan African countries
in terms of GDP, Inflation, and Balance of Payment (BPM6) The paper addresses a
significant knowledge gap regarding the pandemic's influence on emerging financial
markets in Africa. A longitudinal research design was adopted, analyzing data
from Ghana, Kenya, Nigeria, and South Africa between 2017 and 2022. The study
utilized GDP per capita growth, Inflation, and Balance of Payment as dependent
variables, employing a repeated measure of ANOVA for analysis. The use of the 6th
edition of the Balance of Payments Manual (BPM6) is an important macro-economic
indicator significant in determining the performance of any country with the
rest of the world. The results indicate substantial shifts in BPM6, GDP, and
inflation rates before and after the pandemic. Specifically, there was a
decrease in BPM6 deficits, an increase in inflation rates, and a slowdown in
GDP growth post-pandemic, highlighting COVID-19's significant economic impact.
The study recommends implementing policies to stabilize the economy, focusing
on fiscal stimuli to boost GDP, controlling inflation, and managing external
debts to improve the balance of payments. This research provides valuable
insights for policymakers, investors, and stakeholders to effectively navigate
financial market dynamics in Africa during and beyond the pandemic era.
