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Proshare Donates to CACOVID, Launches CoronaWATCH to track the COVID-19 Effect on Markets

Products & Services	1681 VIEWS
Products & Services
1681 VIEWS

Friday, April 03, 2020 / 06:00AM / Proshare Business

Since the outbreak of the novel Coronavirus (COVID-19), activities around the world have taken a different turn; from markets recording continuous decline to Central Banks resulting to the provision of stimulus packages and quantitative easing all in a bid to salvage the economy; go. In the same vein, businesses have been on a stand still as governments enforce a lockdown in order to contain and curb the spread of the virus.

As fundamentals change in both the macro and micro economic landscape, there is no doubt that business will no longer be as usual. As the uncertainty in the global and local sphere continues to mount, researchers are on a quest to find a vaccine for the Coro

navirus, while market analysts continue to watch data and responses from government in order to somehow forecast what the outlook for the economy would be after the pandemic.

In the face of this, DATA remains key. For easy access to data on global and local markets, responses from both the public and private sector, guidance, advisory and live updates on COVID-19, Proshare today launches the "Proshare CoronaWatch Central" - a dedicated digital platform focused on tracking updates, policies, reforms and advisories from international and domestic agencies / community as well as the effect of the pandemic on the Global, African and Nigerian financial market and the economy.

In addition, Proshare in response to the national call and reactions of forward-thinking entities, donated to the Relief Fund Account set up by the Private Sector Coalition Against COVID-19 (CACOVID). This is alongside other donations made to the Federal Medical Centre, Ebute Metta (Healthcare Workers) and the Proshare Foundation (Advocacy & Enlightenment), as part of its support and fight against Covid-19.

Speaking on the development of the Proshare CoronaWATCH Central, Reshu BAGGA, the Chief Technology Officer at Proshare stated that "the platform was developed as part of our commitment to ensuring credible, reliable and timely information is available from verified sources to the general public." She further added that "businesses need to think out of the box due to the uncertainties at this time, and reliable data and access to information via a credible platform is the only means to ensure one can stay ahead."

On how this would enhance the work done by analysts in understanding the impact of the pandemic to aid prompt release of outlooks for various sectors, Teslim SHITTA-BEY, the Chief Economist & Managing Editor at Proshare asserted that "the CoronaWatch is one that facilitates access to figures and facts about the pandemic."

In addition, he noted that the Economic Desk of Proshare commenced commentaries around the subject - "Coronanomics" in February 2020, to assess and analyse how governments, corporates and individuals are dealing with the pandemic; while a Coronanomics Watch was debut via the WebTV Platform after the recent lockdown to keep the public abreast of updates around the world and enable the public gain insights from experts and key stakeholders in the economy and financial markets on a daily basis.

While the end of the pandemic remains unknown and economies seek a way out, it is evident that there is a paradigm shift and more needs to be done for economies and the financial markets to get back on track.

Visit the Proshare CoronaWATCH Central HERE