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"George Floyd deserves justice. His family deserves justice. The black community deserves justice," Frey said Wednesday at a news conference.

"Financial institutions should have a countercyclical mindset. When times get tough, they should not simply reduce lending, collect debt in advance or stop lending, for their asset quality will worsen if their clients' risks increase rapidly," he added.

"For a company to succeed, we need to find out what exactly people want. African users like selfies, multiple phone card slots, enabling local language, stable music function and longer battery life," he said.

"Foreign institutional investors' entry will add more liquidity into the market. Not only commercial banks, insurance companies and pension fund managers should also be encouraged to join the trading," he added.

"For staff who may lose a job because of the virus outbreak, the government should provide unemployment insurance and short-term relief," Zhu said.