The results of the second joint UNECA-IEC survey on COVID-19 Impact on Business and Trade in Africa have just been published. The results of the survey show that the top three challenges faced by companies are: a) reduced opportunities to meet new customers; b) drop in demand, and; c) lack of cash flow. Companies have faced serious disruptions in both supply and markets due to COVID-19. When it comes to their performance, companies are currently working at about half of their capacity. Revenues are expected to drop by 18% in 2020, compared to 2019. Check out more on the survey results below.
International Economics Consulting Ltd is working in partnership with United Nations Economic Commission for Africa (ECA), its sub-regional office for Southern Africa, and the African Trade Policy Centre (ATPC) to conduct these surveys.