International Economics Consulting Ltd. (IEC) worked with the Regional Multidisciplinary Centre of Excellence (RMCE) and the World Bank to promote regional cooperation solutions for both the private and public sectors in their response to COVID-19 in the Indian Ocean region. This intervention focused on a short-term horizon and the building of a regional database of potential suppliers and demanders of critical COVID-19 medical supplies.
Regional solutions for COVID-19 Recovery in the Indian Ocean
The Project at A Glance
Our Strategy and Impact
The project started in May 2020 and ended at the end of June 2020, constituting an implementation phase of just 6 weeks. It was implemented, as a pilot, among 8 countries namely Comoros, Madagascar, Malawi, Mauritius, Mozambique, Reunion, Seychelles, and Zambia.
An online database of suppliers and buyers was set up. It contained a list of COVID-19-related supplies and is meant to continuously evolve, with new supplies being added regularly. Moreover, a Business-to-Business session was carried out for companies in the region in order to facilitate the connection of suppliers, buyers, and logistics companies, and share knowledge and experience. A peer learning session was equally held in July 2020 to discuss policy experiences and the private sector’s experience in switching to the production of PPEs.
During the pilot phase, 55 suppliers had registered on the database and there were 7 registered buyers. Most of the suppliers were based in Mauritius and Madagascar. Some of the products supplied by these companies included masks; gloves; gowns; and sanitisers. Despite the success of the project, there were a few challenges namely:
- Private sector engagement was strong predominantly in Mauritius and Madagascar
- Transport costs, as well as frequency and connectivity of routes, pose challenges for most traders
- Currency depreciations affect the supply of inputs used in PPE production
- Ensuring that the PPE equipment being supplied in the region is meeting the necessary international standards and production norms.
Our Core Solutions
The world economy is continuously impacted by new risks and challenges, causing significant disruptions to international trade. Recently, the world economy has been beset by multiple issues, such as the COVID-19 pandemic and inflationary pressures, resulting in significant disruptions and uncertainty that call for a coordinated and comprehensive response. At International Economics Consulting, we provide strategic insights to assist organisations, businesses, and governments in anticipating risks, building resilience, mitigating impacts, and supporting our clients in their recovery against such shocks.