1. IMPACT OF THE FINANCIAL CRISIS IN AFRICA

2. 1. Introduction
Survey conducted among 22 Employers Organisations in
Africa on the impact of the global financial and economic
crisis

3. 2. The Impact of the Financial Crisis on the Economy of your Country

4. The main reasons related to the negative impact
Decrease in demand in most sectors
Fall of the international commodity prices
Negative impact on their currencies

5. 3. Impact on Economic indicators
Increase (%)
Decrease (%)
No Change (%)
Did not answer (%)
Economic Growth 18 63 14 5
Investment 55 27
Employment
Exports 9 68
Imports 41
Wages 36 23
FDI 59
Foreign Aid
Exchange Rate of your currency 50

6. 4. Expectations for 2009

7. 5. Economic Sectors Affected

8. 6. Impact on Enterprises Variable Increase (%) Decrease (%)
No Change (%)
Did not answer (%)
Employment 71 24 5
Cost of Production 48 14 38
Profitability 66 10
Investment 61
Volume of Demand 81
Selling Prices 33 29
Access to Finance/Credit
Business Confidence 57

9. 7. Remittances

10. 8. Impact on Stock Exchange

11. 9. Impact on the Activities and Priorities of the Organisation
86% of Employers Organizations believe that the crisis will have an impact on their activities and priorities.

12. 10. Government Measures to Deal with the Crisis
Government in 17 countries have taken measures to deal with the
crisis.
16 of the respondents have been consulted.
These measures are:
Setting up of a committee to monitor the impact of the crisis
Stimulus packages
Increase of public expenditure to support economic activity
Improve Productivity
Reduction of customs taxes

13. 11. Proposed Solutions by Employment Organisations
Survey respondents suggested the following additional measures
that may be undertaken:
Support Programs for Vulnerable Sectors (7)
Support Domestic Production (7)
Social Dialogue for Solutions (4)
Training and Productivity Improvement Programmes (4)
Support to SMEs (3)
Setting up of a committee to monitor the impacts (3)