Assessments of Covid 19’s Consequences on Business Activities the Case of East Wollega Zone –Oromia Regional State: The Current Status and Future prospective

Abstract

The unexpected economic disturbance caused by Covid-19 is affecting all movements has unexpected consequences because it created restriction in transaction and day to day activities in almost every area of human activities. The economic agony turns out to be severe as people were enforced to stay at home, and the severity was felt in various sectors of the economy with travel prohibitions affecting each and every activity of the business men and  people in generalEthiopia declared state of emergency on April 8, 2020 for the next five months to get control over the virus. The state of emergency has imposed different restrictions and measures on people activities and travels. Transportation services in almost all areas are enforced to reduce the number of passengers by half. This travel ban slowdowns the economic and social interaction among people which may will result in dramatic liquidity crisis followed by economic depression. This is the current consequence of Covid-19 outbreak. In order to achieve the stated objective the descriptive research design was employed. Many people and families have suffered and will suffer from the unexpected losses around the world.  It will have profound consequences on the world’s business operations, social, political environments and on its economy in general. Particularly, in addition to the political instability, the Covid 19 pandemic severely affects Wollega zones of Oromia. Because of the current consequences the business operations and the daily activities of the society were diminishing. The zone official has to adjust between the necessity to keep the business transactions working and the need to keep the populations from this current pandemic.  Hence, the zone officials or any concerned body should review their activities towards protecting the Covid 19 pandemic to create a favorable situation to continue movements of significant transactions.

Keywords: Covid 19, Consequences, Business activities and Economic

DOI: 10.7176/RJFA/11-17-07

Publication date:September 30^th 2020