It is important to assess the socio-economic impact of COVID-19, although the pandemic is at a less advanced stage in Africa, due to its lesser quantity of international migrants’ arrivals relatively to Asia, Europe, and North America and strong precaution measures in some African countries. African economies remain informal and very extroverted and vulnerable to external chocks. In the study, we use a method based on scenarios, to evaluate the potential impact of the pandemic on various dimensions of African economies. Due to the difficulty of quantifying the real impact as a result of the uncertainty, the rapidly evolving nature of the pandemic, and scarcity of the data, our work focuses on understanding the possible socio-economic repercussions in order to propose policy recommendations to respond to the crisis. The lessons learnt from the study will give more enlightenment on the way forward, as the continent is in a critical phase of the implementation of the Continental Free Trade Area (AfCFTA).