Corona Virus Scare Provokes Price Hikes

Most Business people in Douala are unable to travel to other countries to buy goods. The corona virus is a current disease which has gotten viral across the globe killing thousands of people. The virus according to reports started in China and has spread to majority part of the world. So far about many African…

Most Business people in Douala are unable to travel to other countries to buy goods.

The corona virus is a current disease which has gotten viral across the globe killing thousands of people. The virus according to reports started in China and has spread to majority part of the world. So far about many African countries have confirmed cases including Cameroon. With the rate at which the diseases is spreading most countries including China have block their borders for over a month  thus stopping business people from Douala to travel to China to buy goods. The situation has a toll on the population as most city dwellers complaint of a sharp increase in some commodities especially those coming from China. 

The economic impact is huge

A sojourn at  “Marché Chinois at douche”a popular area in Douala where Chinese  goods are sold, most of the traders complaint of lack of goods. Madam Annette Obam   who sells dresses at “Marché Chinois douche” was supposed to travel to China one month ago to buy goods but she didn’t. She said that almost all the goods she had in tock were finished. “I usually supply to other people who go and sell, now they keep calling me but I can’t supply to them” She recounted. Laeticia Ngamou also buy and hawk around in offices and streets, she said when she went to buy shoes she realized that the price has gone up. “Most often I usually buy shoes “balleries” for CFA 2000 and sell for CFA 2500 but when I went to buy yesterday I bought same shoes for CFA2500 and I will sell for CFA 3000” she explained. She regretted that some goods that she usually buy are not available in the market. A lady who came to buy dresses and shoes for her children revealed that jean trousers that she sometimes buy for CFA 5000 now cost CFA 7000- 8000.  She said the quality she always buy are not available. She told this reporter that she will not buy as planned as she will return home and only come for shopping when things must have gotten to normal. Her greatest wish is that world leaders should be able to contain the corona virus so that people can travel as usual to do their businesses. The rapid and global spread of the new corona virus within just a few months is infecting the global economy. While containment of the virus and efforts to reduce the loss of life has ultimate priority, policy makers need to act quickly to contain the economic fallout.

 BY GINA ESONG

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