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Poll Reveals 70% of African Businesses Expect their Revenues to Decrease by More Than 10% Next Month

In a live poll conducted by Africa.com as part of its webinar series, Crisis Management for African Business Leaders, nearly 70% of webinar participants predicted that their business revenue will decrease by more than 10% next month. 47% indicated that they expect their revenue to decrease by more than 25% next month, and 24% indicated that they expect revenues to decrease by more than 50% next month. Only 20% indicated that they expect revenue to remain the same or increase. Africa.com Chair and CEO Teresa Clarke says, “The poll results are supported by the qualitative data we collected from the 10,000 registrants for the webinar series. We asked registrants what their greatest concern is with respect to COVID-19. Responses were open ended, and we received 10,000 responses ranging from 10-100 words. By far, the greatest concern expressed was reduction in revenue. But interestingly, many commented that while they were concerned about revenues, it was because they were concerned about being able to pay their employees. One respondent commented, ‘In Africa, we care more about people than profits.’”

SOURCE: AFRICA.COM