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93% of respondents in continental survey fear for their finances

93% of respondents in continental survey fear for their finances

Despite the uncertainty that has been brought about by the lockdown, tech-enabled companies have witnessed increased demand from individuals, businesses and even governments who seek to bridge existing communication and logistics gaps.

Businesses globally have started to prioritise digital transformation strategies to ensure business continuity. To complement this reliance on technology, surveys and insight studies are being conducted across Europe and the US to help businesses understand customer needs and attitudes. However, gathering this information within Africa has proven to be difficult due to a lack of infrastructure.

Survey54’s AI mobile technology enables businesses to get the answers they need to make decisions based on up-to-the-minute data in areas that are otherwise difficult to reach. Stephan Eyeson, Chief Executive and Co-Founder of Survey54, said, “Our AI mobile technology enables businesses to get the answers they need during these uncertain times.”

A study conducted by Survey54 across the continent found that almost 70% of survey participants in Nigeria no longer felt safe to go food shopping, a sign that customer behaviour is indeed changing and further indication that by looking into data and insights, businesses operating on the continent have the opportunity to find innovative ways to cater to the needs of consumers in an efficient and informed manner. Businesses can make use of services such as Survey54 for consumer insights to improve product offerings and strengthen their overall marketing and communications strategy in times of uncertainty.

Survey54 offers businesses relevant and timely data on countries within Africa that can help validate assumptions and stress-test strategies even during nationwide lockdowns. Following their recent COVID-19 consumer perception study across Africa, Eyeson revealed some interesting findings like the trend to spend more time on personal development by taking online courses, perhaps proving that this is a chance for more unconventional modes of education to take root on the continent.

With 93% of the people who took the survey fearing for their finances during the lockdown, the question is whether these newly acquired skills will lead to a paradigm shift in terms of job creation and income generation after the devastating lockdowns.

In South Africa, it was found that 72% of survey participants felt financially affected whereas amongst Ghanaians, this number dropped to 46%. This stark contrast of figures could suggest organisations would be mistaken for generalising the impact of the pandemic across the continent.

Moving forward, businesses and countries on the continent must strategise on short, medium, and long-term goals using accurate and up-to-date customer data. Eyeson suggests that “Further research, leveraging real-time opinion polls and audience sentiment, should be conducted on the ground post-lockdown to identify opportunities that the pandemic has inadvertently presented.”



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News Service

News Services form an indispensable part of the newsroom toolbox. In Africa, there are several advanced providers of information, some servicing the entire continent while others are more regional, or country specific. The Namibia Economist employs a wide spectrum of local, regional, continental and international News Services.