The Financial Impact of Coronavirus in Sub-Saharan Africa
23/07/2020
Keywords: Data systems / analysis, Eastern Africa, Ivory Coast, Kenya, Mozambique, Nigeria, South Africa, Southern Africa, Western Africa
In order to provide a more complete picture of the economic impact of COVID-19, GeoPoll has conducted a study in five countries in sub-Saharan Africa (Kenya, Nigeria, Côte D’Ivoire, Mozambique, and South Africa). The main areas GeoPoll’s study examined are:
- Ability to work and income change since the outset of COVID-19
- Concern over expenses and the ability to pay for basic needs
- Usage of loans, savings, and income to pay for expenses
- The impact of COVID-19 on loans and mobile money services
- Receipt of aid and opinions of government priorities
Some key callouts on the study and results:
- The study was conducted in Côte D'Ivoire, Kenya, Mozambique, Nigeria, and South Africa with 2,500 respondents total
- The majority of respondents were low income before coronavirus (earned under $300 USD/month) and 48% were informal workers
- 60% of respondents are unable to work due to coronavirus
- 49% of respondent's incomes have decreased a lot due to coronavirus
- 71% of respondents are concerned more now with paying expenses than they were before coronavirus
- Additional findings examine ability to pay expenses, loan uptake, aid received, mobile money usage, and more.
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