Formal enterprises, which contribute to the creation of wealth through processing, trade, and service activities, are exposed to the health crisis and to government measures to combat the COVID-19 pandemic. Taking measures to control the spread of the disease has repercussions on the partial or total cessation of important activities in the formal and informal sectors. This causes numerous losses of markets and jobs, with an increase in the impoverishment of many households.
This report provides the results from a study assessing the impact of the COVID-19 pandemic on the activity of formal businesses in Cote d'Ivoire. A sample of 310 companies, stratified according to the sector of activity and the size of the companies (large companies and small and medium-sized enterprises), was selected from the survey frame of the Financial Data Bank, made up of 30,000 formal sector companies. A collection of qualitative information and statistics was also carried out from a sample of 13 umbrella groups and socio-professional organisations, according to their representativeness in their respective sector of activity.
The results of the study show an overall loss of activity of more than 26 percent, with the consequence of destroying more than 130,000 salaried jobs at the end of December 2020 if the situation continues. The consequences are felt by large companies and SMEs. Faced with the negative effects of this crisis on the economy, the government has announced a number of measures to help businesses. These include, among other things, the establishment of a support fund and tax provisions allowing companies to amortize their cash flow deficit in this period of declining economic activity.