The whole world is currently going through an economic recession as a result of the COVID 19 Pandemic that has ended the lives of thousands of people across the globe while more than 1 million people are still fighting for their lives.
Presently, all the major cities in the world have been on lockdown for weeks now and human activities have reduced and many businesses short down including banks in some countries. Since the outbreak of Coronavirus life has not been the same to anyone irrespective of your identity or position.
Having carefully looked at the current situation especially during the lockdown in most countries I discovered that not every industry or business has been impacted negatively but positively. Some businesses are now thriving since the coronavirus outbreak.
The question now is, what are the businesses that have been able to stand out during this hectic moment. However, I am going to list those businesses and industries, I will as well explain how they have been able to stand firm while other sectors struggles.
Mobile Telecommunications and data service providers
The industry that gains more during this COVID 19 Pandemic is mobile telecommunications and data service providers. During the lockdown, people spend more buying airtimes to enable them reach out to their family and friends while some with smartphones and computers spend most of their time watching YouTube videos and as well as reading news online.
MTN Nigerian in one of their recent press release acknowledged that the workload is too much for them as while unveiling their COVID 19 Y’ello Hope Package.
According to them!
it is important to understand that our networks have come under unprecedented pressure as demand has grown rapidly. While all networks ensure there is significant redundancy in place to support peak periods, the level of demand we are seeing consistently exceeds those levels and so, with our regulator, policymakers and colleagues in the industry, we are focused on increasing capacity and sustaining that capacity where it is most needed.
Social Media like Facebook andTwitter
Social networking site like Facebook is already overclouded with people navigating through Facebook newsfeed to find out what people are saying about coronavirus and as well as other trending news, the latest gist on Facebook for the past 48 hours was people linking 5G network to coronavirus while some kick against it being allowed in Nigeria.
Facebook is already the biggest social network in the world and only second to Google generally in terms of popularity. The lockdown favors them since even people with good businesses that should have been busy doing their business are left with nothing but to stay connected with their friends and family on social media.
Pay Cable TV providers
The lockdown in most of the states in Nigeria will surely get people closer to their televisions to find out what is going on in the world and the best way to have access to news and general entertainment is through cable TV providers such as Dstv, GoTv, Startimes, CTL, and Metro digital.
There will be an increase in subscription because everyone is at home and the only way to cope is to subscribe to any cable TV providers and have access to Nollywood and Hollywood movies, news channels like CNN, BBC France 24, etc.
One of the major challenges that most people face is light (NEPA) but all the same, staying at home without finding a way to keep yourself busy will be boring.
Online Gaming industry
No matter the situation, people will still find a way to stay busy and happy with the things that matter most to them. Most of the online gaming industry will record more sales once people are staying at home, those who are addicted to video games will now have more time to play until they become tired.
Looking at some gambling platforms, like premier lotto, winners golden chance and other sports betting platform they have online platforms where punters can play their favorite games online while staying at home.
Sports betting especially Football has been hit so hard that even club owners and footballers are re-negotiating on their salaries while punters find it hard to stay idle without betting. However, a smart betting platform like Bet9ja has created something unique called ZOOM soccer and other visual games to keep their customers busy while waiting for the return of normal league games.
Life has changed over the years that we can now get quick cash within a few seconds in Nigeria. The lockdown will surely increase the request for a loan because many will run out of cash since their business has been closed for weeks
However, not every loan provider will be able to offer a loan at this trying time but other big loan providers are always ready to help both in raining and dry season. The more they lend money the more they make more profit from the interests
People who are selling food items in the streets will surely utilize this opportunity to make more money as people struggle for food throughout the lockdown period. In one of my recent posts here
, I explained how a paint of garri is sold between 1500 - 2000 in Delta and other states in Nigeria.
The price of grocery items has doubled since the lockdown attributed to the high demand for food items which means more profit, some of the food items affected include rice, beans, yam, oil garri and lots.more. in as much as some don't have money to eat, one thing is certain, they must find a way to eat in one way or the other.
Most of the online shopping malls Will experience low turnout in terms of orders but they have little advantage over offline shops that have been closed as a result of lockdown ordered by the Nigerian federal government.
Let use Jumia as an example, despite the lockdown order, they still can deliver sanitizers and other goods to their customers without any delay since every road is free. Whether you are buying sanitizers, electronics or groceries it will be delivered faster than you think.
Stay safe and help stop the spread of coronavirus