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<p class="has-text-align-left"><em><strong>About the Author:</strong> <em>Dan Adkins is the CEO of <a rel="noreferrer noopener" href="https://www.transnationalacademicgroup.com" target="_blank">Transnational Academic Group</a> &#8211; Education Management Services Provider of <a href="http://curtindubai.ac.ae/?utm_medium=Backlink&amp;utm_source=CNBC&amp;utm_campaign=COVID-19%20Lessons%20to%20be%20learned%20from%20the%20pandemic" target="_blank" rel="noreferrer noopener">Curtin University Dubai.</a> He joined the Group in 2009, prior to which he was in the information technology industry providing services for companies including IBM, Dell, Clorox, Philips, Hershey’s, Coca-Cola, Merck, and VISA. </em></em></p>
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<p>The COVID-19 pandemic is unprecedented in modern times. Over the past 105 years, there have only been three to four incidents that have had nearly as severe and global an impact: the 1918 Flu Pandemic, World War One, the Great Depression, and World War Two.&nbsp;Events like these defined generations and inspired certain behaviours in those of that generation.&nbsp;Unfortunately, there are few alive who have first-hand memory of any of these events.&nbsp;Historically, coming out of such events, people have developed certain traits and lifestyles that reflect that hardship they have experienced and a desire to avoid such hardship in the future.</p>



<p>These events shared several traits; they were unexpected, unprecedented in their scope, and unpredictable in their impact and length.&nbsp;All of these traits cause uncertainty about the future, resulting in stress and fear which often lead to poor decisions being made that simply exacerbate the problems.</p>



<p>As these events were unexpected and very few people were, due to their situation and lifestyle, prepared for them.&nbsp;As humans, we generally live very much in the present and do not give a significant amount of thought to the future.&nbsp;Even when we do think of the future, it tends to be from a place of optimism, which is focused on our future goals and desires.&nbsp;&nbsp;But, just as companies should have a disaster recovery and business continuity plan, so should we as individuals.&nbsp;This however goes against human nature.&nbsp;Rare is the person who has achieved the balance of being able to always consider, “what is the worst that could happen?” and yet maintain the realistic optimism needed to prepare for the future.</p>



<p>After these events, people had an idea of, “what is the worst that could happen?” and were determined to make sure that if it ever happened again, they would be ready for it so that they would never face the fear and suffering that they had just experienced.&nbsp;&nbsp;It has been said that those who do not know history are destined to repeat it<sup>[1]</sup>, therefore let us take some lessons from history so that we best know how to deal with the current pandemic, and how to be better prepared for the crises that we will surely face in the future.</p>



<p>Coming out of these events, most people had new priorities.&nbsp;First, they discovered what was really important in life.&nbsp;People had found that things were not nearly as important as people.&nbsp;Many people lost all that they owned during these events, and yet they survived.&nbsp;&nbsp;They learned that losing family and friends hurt much more than losing things and that even when all material things were lost, it was the support of family and friends that made life bearable and provided both a motivation and pathway to eventually recover.&nbsp;This led to both putting greater value on the relationships with family and friends and to having less desire for material possessions, as well as valuing character over status.&nbsp;&nbsp;</p>



<p>Second, they realized the value of having a reserve on which they could draw in the next crisis.&nbsp;These generations became generations of savers, who, as my grandmother would say, “set aside a little something for a rainy day”.&nbsp;While this goes against the natural desire to have pleasure in the present and to be less concerned about the future, the fear of suffering again was sufficient to overcome the desire for immediate gratification.&nbsp;Third, they came to understand the criticality of remaining employable.&nbsp;They understood that the social contract had changed and doing your job was not enough to ensure that you could stay with your company until retirement.&nbsp;This realisation led to an increase in enrolment in higher education that continues to this day.&nbsp;It led to a rapid growth in entrepreneurship that is still continuing. It also led to a culture of a strong work ethic, realising the importance of being seen as fully committed to ones work in maintaining job security.</p>



<p>Unfortunately, the seven decades that have intervened since these great times of struggle have changed the culture and the lessons of the past have been lost.&nbsp;Worldwide marketing efforts and the global media have glorified materialism, status and celebrity, leading to the death of the culture of character.&nbsp;The glorification of possessions and status have led to a consumerist culture that is far exceeding the ability of the Earth’s resources, and has led to less and less money being put aside for a rainy day.&nbsp;Over the decades, many of the social safety nets that had been established have been eliminated or weakened to the point of being ineffectual.&nbsp;As has been demonstrated in countries like Australia and New Zealand, proper actions when supported by effective healthcare and government systems, had the ability to stop the pandemic with both minimal loss of life and as little adverse economic impact as possible.&nbsp;Much of the damage that is being seen now in the world is directly attributable to the decades long destruction of the social safety net, especially the health care systems, and most importantly to the poor decisions of governments, with the United States, Brazil, and Sweden clearly serving as case studies.</p>



<p>As an individual, it may seem that there is little that can be done to improve the situation in this time of pandemic, but such defeatist attitudes serve no one well.&nbsp;There is much that can be done as an individual to make things better during the pandemic, and to make sure that both you and society are better prepared for the next crisis.</p>



<p>First, we must overcome the human desires to do whatever we want and instead take every possible action to limit the spread of the virus by staying home unless absolutely necessary, maintaining social distancing when in public, and consistently and correctly wearing personal protective equipment like masks and gloves.&nbsp;The 1918 flu pandemic demonstrated that those communities who followed good practices to limit the spread of the virus not only had better health outcomes, but also had substantially faster economic recovery.&nbsp;By controlling the virus, Australia and New Zealand have already been able to reopen their internal economies and are not facing a second wave of infections, while countries like the United States, which even according to the guidelines established by the United States government, is reopening too soon, will almost certainly face a more severe second wave similar to what was seen in the 1918 pandemic, which will cause even more economic damage.</p>



<p>Second, we would do well to personally take guidance from our ancestors who lived through the prior crises in understanding how to deal with this one.&nbsp;During prior times of crisis, communities worked together to help each other out.&nbsp;Those who had the financial ability, contributed to help others with material needs.&nbsp;A substantial informal economy formed based largely on barter, where people used what they had to help others and in turn received help themselves from others, much as my grandmother described trading vegetables from her garden for eggs from one neighbour and meat from another.&nbsp;&nbsp;At that time, social class was largely irrelevant and the community stood strong together.</p>



<p>Third, as we come out of the pandemic, we should apply the lessons that we have learned and live our lives in a way that both prepares us for any future crisis and is sustainable.&nbsp;&nbsp;Coming out of the crisis, we should realise how we have been manipulated by marketing, media, social media, and celebrity into valuing material things, often over people or character. The way that those in the most developed countries are living is absolutely not sustainable and would be catastrophic if adopted by the rest of the world. While absolute minimalism has its virtues, it may be too much for some people.&nbsp;However, everyone can adjust to living a life where they purchase only what they absolutely need, live in a residence no larger than is absolutely required, do not buy products for status or brand, do not waste perishable items, and use every product until it can no longer be used. This not only gets us off of the consumerism treadmill and stops us from comparing our real life to someone’s highlight reel on social media, but also allows us to save money to be better prepared for any future crisis and gets us much closer to living in a sustainable way so that Earth is still in good shape for our children and grandchildren.</p>



<p>Let us together pledge to take this global crisis and catastrophe and use it as the driver to make a lifelong commitment to living in a way that is sustainable and that prepares us for any crisis yet to come.</p>



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<p><sup>[1]</sup>George Santayana</p>



<p>Content and images supplied by <a href="http://curtindubai.ac.ae/?utm_medium=Backlink&amp;utm_source=CNBC&amp;utm_campaign=COVID-19%20Lessons%20to%20be%20learned%20from%20the%20pandemic">Curtin University Dubai</a>. </p>


Facebook holds on as TikTok invades Social Media in SA

COVID-19: Lessons to be learned from the pandemic

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<p>In Tanzania, the Dar Es Salam Stock Exchange recorded zero tradings last week. The bourse which is has been hit hard by the COVID-19 pandemic traded only government securities valued at $7.2 million by the end of last week.</p>


Dar Es Salaam Stock Exchange CEO speaks on the impact of COVID-19

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<p>Following the decision by oil producer club and its allies to extend its 9.7 million phase one production adjustment deal till the end of July.</p>


Can Nigeria’s economy withstand OPEC’s production cuts?


<p>June 9 (Reuters) &#8211; Administrators in charge of South Africa’s Edcon have proposed a sales process that may lead to job redundancies in “significant numbers”, after the retailer filed for a form of bankruptcy protection in April.</p>



<p>Administrators are seeking the sales of the retailer’s divisions as going concerns, according to details of the business rescue plan published late on Monday.</p>



<p>“This may, in turn, result in the dismissals of some or all of the employees, for operational reasons subject to outcome and implementation of the sales process,” the administrators were quoted as saying in the document.</p>



<p>Edcon, which owns department store chain Edgars and budget clothing retailer Jet, entered “business rescue” proceedings after losing an estimated 2 billion rand ($120 million) of sales since the coronavirus pandemic reached South Africa in March.</p>



<p>The administrators, Piers Marsden and Lance Schapiro of Matuson Associates, said the proposed plan will lead to an “efficient rescue of the company” and will balance “the rights and interests of all stakeholders”.</p>



<p>A meeting of creditors and other holders with a voting interest will be held on June 22.</p>



<p>The development comes weeks after administrators said there was a reasonable chance of saving the retailer.</p>



<p>Edcon, hurt also due to a drop in payments from customers who had bought on credit, was unable to pay suppliers and creditors in March and April. ($1 = 16.6582 rand)</p>



<p>(Reporting by Kanishka Singh and Shubham Kalia in Bengaluru; Editing by Kim Coghill and Himani Sarkar)</p>



<p>This article was first published on Reuters <a href="https://af.reuters.com/article/southAfricaNews/idAFL8N2DL68D">https://af.reuters.com/article/southAfricaNews/idAFL8N2DL68D</a> and is republished with its permission. </p>



<p>For more coverage on COVID-19 visit: <a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a></p>


Administrators propose sales plan for SA retailer Edcon, see potential job cuts

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<p>Doctors in Nigeria have threatened to go on an indefinite nationwide strike from the 15th of June over working conditions and salary arrears. With over 12,801 confirmed Covid-19 cases in Nigeria, Dr. Ifeanyi Nsofor the CEO of EpiAfric joins CNBC Africa to discuss how this could impact the progress made in containing this pandemic.</p>


COVID-19: Nigerian doctors threaten to down tools on June 15th

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<p>Traders say they expect the 90 billion naira maturities this week to spur demand in Nigeria’s Treasury Bills market while bond investors will continue to monitor the market in anticipation of a bond auction. Joining CNBC Africa for more on Nigeria’s fixed income and forex market is Chioma Udo, Forex Trader at GT Bank&#8230;.</p>


Nigerian traders expect N90.94bn maturities this week

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<p>Khurshid Fazel, Partner at Webber Wentzel and Head of the Financial Services Sector joins CNBC Africa to unpack the role of investment banking during the Covid-19 outbreak and the impact that the outbreak has on the financial services sector in key African economies.</p>


Webber Wentzel on how Africa’s banking sector is responding to COVID-19

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<p>Angola lifted its Covid-19 state of emergency last week and has reopened businesses at 50 per cent capacity, as the economy faces the economic fallout from the global pandemic. The Angolan government has injected around 200 billion kwanzas into the economy, mostly through quantitative easing and Rui Oliveira, CEO at BFA Asset Management joins CNBC Africa for more.</p>


COVID-19: Angola begins partial reopening of economy

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<p>A number of projects in Rwanda have received grants from Corona Action Rwanda, an initiative that supports entrepreneurial projects that can mitigate the health or socio-economic impact of COVID-19. Cynthia Ndeti, Entrepreneurship Program Manager at Jasiri joins CNBC Africa for more.</p>


This initiative looks to help Rwandan entrepreneurs navigate COVID-19 headwinds

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<p>Rwanda Parliament approved an International Development Association (IDA) credit worth €91,4 million to finance Rwanda’s energy sector supplemental development policy financing. In the country, government&#8217;s statistics indicate that electricity access rose to 54 per cent countrywide (39 per cent on-grid, 15 per cent off-grid). CNBC Africa’s Fiona Muthoni spoke with Ron Weiss, CEO of Rwanda Energy Group for more.</p>


Rwanda Energy Group CEO: How COVID-19 is impacts Rwanda’s electrification targets

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<p>The Mastercard Foundation has committed $40 million to the Africa Centres for Disease Control and Prevention as it seeks to contribute to the COVID-19 fight. Peter Materu, Chief Program Officer, Mastercard Foundation joins CNBC Africa for more.</p>


Mastercard Foundation commits $40mn to Africa’s fight against COVID-19

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<p>Last week Sudan sent a letter to the UN Security Council asking them to discourage Ethiopia from filling their Renaissance Dam reservoir before coming to an agreement with the country and Egypt. This letter comes after the back and forth between Ethiopia and Egypt on the way forward for this almost $5 billion project. So how much are these disagreements costing? And what could the bill rack up to if it’s not sorted out soon? CNBC Africa spoke to Political Economic Analyst, Mikael Arage for more.</p>


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<p>The Africa Center for Disease Control and Prevention is coming up with a new continental strategy to ramp up testing to help limit the transmission of the COVID-19 pandemic. The man leading this strategy, Dr John Nkengasong, Director of the Africa CDC, joins CNBC Africa’s Kenneth Igbomor to discuss the specifics of this strategy and how Africa is bracing up to the COVID-19 shock&#8230;.</p>


COVID-19: How the Africa CDC plans to ramp up testing capacity

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<p>The Africa Center for Disease Control and Prevention is coming up with a new continental strategy to ramp up testing to help limit the spread of the COVID-19 pandemic. The man leading this strategy, Dr John Nkengasong Director of the Africa CDC, joins CNBC Africa’s Kenneth Igbomor to discuss the specifics of this strategy and how Africa is bracing up to the Covid-19 shock.</p>


COVID-19: Africa CDC tweaks strategy to ramp up testing

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<p>Since Nigeria confirmed its first COVID-19 case a little over 100 days ago, the country has rolled out monetary and fiscal measures as well as locked-down some of its major cities and most affected states, all in a bid to curtail the spread of the pandemic. With about 8,173 active coronavirus cases in Nigeria, Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa to recap Nigeria’s COVID-19 strategy and assess their impact so far&#8230;.</p>


Tilewa Adebajo on oil &100-days of COVID-19 in Nigeria

Tilewa Adebajo on oil & 100-days of COVID-19 in Nigeria

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<p>As analysts across Africa talk home-grown solutions to support economies in the wake of the Covid-19 pandemic, CEO and Executive Secretary of the Nigerian Shippers’ Council, Hassan Bello joins CNBC Africa to explore exports, regulations and revenue generation through Nigeria’s Ports as an economic buffer within a pandemic.</p>


COVID 19: How can Nigeria’s ports thrive within a pandemic?

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<p>Uganda’s monetary policy committee is expected to cut interest rates by 50 basis points later today, while inflation in Tanzania is likely to show further easing in May. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


Newsletter

COVID-19: Lessons to be learned from the pandemic

Dar Es Salaam Stock Exchange CEO speaks on the impact of COVID-19

Can Nigeria’s economy withstand OPEC’s production cuts?

Administrators propose sales plan for SA retailer Edcon, see potential job cuts

COVID-19: Nigerian doctors threaten to down tools on June 15th

Nigerian traders expect N90.94bn maturities this week

Webber Wentzel on how Africa’s banking sector is responding to COVID-19

COVID-19: Angola begins partial reopening of economy

This initiative looks to help Rwandan entrepreneurs navigate COVID-19 headwinds

Rwanda Energy Group CEO: How COVID-19 is impacts Rwanda’s electrification targets

Mastercard Foundation commits $40mn to Africa’s fight against COVID-19

Assessing the economic & political impact of Ethiopia’s GERD dam

COVID-19: How the Africa CDC plans to ramp up testing capacity

COVID-19: Africa CDC tweaks strategy to ramp up testing

Tilewa Adebajo on oil & 100-days of COVID-19 in Nigeria

COVID 19: How can Nigeria’s ports thrive within a pandemic?

Nigeria pledges commitment to OPEC+ output cuts

News Tips

Advertise With Us

Newsletter

COVID-19: Lessons to be learned from the pandemic

Dar Es Salaam Stock Exchange CEO speaks on the impact of COVID-19

Can Nigeria’s economy withstand OPEC’s production cuts?

Administrators propose sales plan for SA retailer Edcon, see potential job cuts

COVID-19: Nigerian doctors threaten to down tools on June 15th

Nigerian traders expect N90.94bn maturities this week

Webber Wentzel on how Africa’s banking sector is responding to COVID-19

COVID-19: Angola begins partial reopening of economy

This initiative looks to help Rwandan entrepreneurs navigate COVID-19 headwinds

Rwanda Energy Group CEO: How COVID-19 is impacts Rwanda’s electrification targets

Mastercard Foundation commits $40mn to Africa’s fight against COVID-19

Assessing the economic & political impact of Ethiopia’s GERD dam

COVID-19: How the Africa CDC plans to ramp up testing capacity

COVID-19: Africa CDC tweaks strategy to ramp up testing

Tilewa Adebajo on oil & 100-days of COVID-19 in Nigeria

COVID 19: How can Nigeria’s ports thrive within a pandemic?

Nigeria pledges commitment to OPEC+ output cuts

News Tips

Advertise With Us

Newsletters