The financial impact of COVID-19 drove many of the poorest African families in Scotland to "economic desperation", claims a new study.
Around 68% either lost their jobs and savings or were unable to afford food and had to rely on family and friends to cover living expenses, according to research.
Almost half of those who took part in the survey into the socio-economic impact of the pandemic said they were willing to risk contracting the virus to provide for their families.
Around 330 Africans living across Scotland took part in the study, which was carried out by the community interest company Diaspora African Women Support Network (DAWSUN), with the support of the African Council and Glasgow Caledonian University (GCU).
Dr Chioma Nwafor, lecturer in financial services at GCU and convenor of the DAWSUN, said: "The pandemic amplified the financial struggles of most African families and drove some of them to the point of economic desperation.
"It is easy to see that inequalities already present in our society have worsened over the last 18 months.
"Every community faces different challenges, so we need local solutions to the pre-existing ethnic disadvantages exacerbated by the pandemic."
Living in overcrowded conditions exposed many African families to a greater risk of contracting the virus, the research found.
Around 60% of the respondents lived in flats, with an average of two adults and three children in three sleeping rooms.
Pressure from low-pay and insecure work was also highlighted. Figures show even though 80% of respondents held either a graduate or postgraduate degree, only 13% earned between £20,000-£26,000 at the start of the pandemic, with 18% averaging between £7000-£12,000.
More than one in three, 36%, had no savings, and 24% had between £0 to £100 saved at the start of lockdown.
DAWSUN, which provides training, mentoring and support for migrants, asylum seekers, and individuals with English as a second language, is calling on pandemic recovery plans to focus on vulnerable groups, particularly those with no recourse to public funds.
Dr Nwafor added: "The pandemic has brought to the forefront longstanding structural disadvantages; from overrepresentation in low-wage jobs to severe personal debt burden and weak financial resilience.
"By shedding light on the situation of a group that has traditionally been on the fringes of society, we hope this report makes a pivotal contribution to the government's vision for inclusive and fairer Scotland."
COVID-19's impact on sustainable investing was explored in the latest Resilience and Reconstruction series of talks from GCNYC's Center for Social Impact and Innovation on 25 March 2021.
A panel discussed the growth in sustainable investment throughout the pandemic on March 25 at 4pm.
Amisha Parekh, Product Manager of Sustainable Financial Solutions at Bloomberg and an adjunct faculty member at GCNYC, chaired the discussion with Jessica Huang, Blackrock's Head of Americas Sustainable Investing Solutions, Carole Laible, CEO of Domini Impact Investments, and Kathryn McDonald, Co-Founder and Head of Investments and Sustainability at RADIANT ESG.
They explored the acceleration of sustainable investment throughout the pandemic and discussed the financial market's attempts to address global issues such as climate change, human rights, and access to health care.
City centre hotels are most at risk from closure and will take longer to recover post-lockdown as tourists opt for rural destinations, experts have warned.
The Moffat Centre for Travel and Tourism at Glasgow Caledonian University is providing hospitality data and policy advice to the Scottish Government as the industry maps out its recovery plans.
Data from mid-July to October last year shows self-catering accommodation in rural destinations boomed but hotel occupancy rates in Glasgow, Edinburgh, and Aberdeen remained low.
Professor John Lennon, Director of the Moffat Centre, said: "Hotels carry such high fixed costs, that unless you have the same volume of revenue coming through you can only continue for a couple of months, even with furlough. We saw some very peculiar patterns in Scottish tourism last year - a reverse of traditional demand. The second wave makes it very tough. Few businesses can endure a whole year of negative trading. There is hope though, people have money saved up and the demand is still there. People will want to go on holiday but international travel will be more difficult because of access. It will be really interesting to see if the same patterns emerge when restrictions are eased this time."
Chancellor Emeritus Professor Muhammad Yunus discussed the impact of COVID-19 on the Common Good as part of the Resilience and Reconstruction Speaker series presented by The Center for Social Impact and Innovation at Glasgow Caledonian New York College (GCNYC) on 3 December 2020.
Professor Yunus drew on his recent masterclass in which he discussed the opportunities for change that could be created in a post-pandemic world.
In No Going Back – Post Corona Reconstruction Programme, global anti-poverty campaigner, Nobel Laureate and Founder of the Grameen Bank, Professor Yunus discussed how "Despite the massive damage it has caused, the pandemic offers unparalleled opportunities and audacious possibilities that never existed before".
A 'bounce-back' fund needs to be set up to help businesses around the North Coast 500 recover from the COVID-19 economic recession. Highlands & Islands MSP David Stewart was inspired by a study by the Moffat Centre for Tourism at GCU which found that the route had boosted the north Highland economy by more than £22million over 12 months. The article appeared in the Ross-shire Journal on 13 August 2020.
