Companies in Africa approached commercial banks to seek funding in the face of the coronavirus (COVID-19) pandemic in 2020. In a survey, it was reported that 60 percent of medium and large company-respondents in the continent contacted financial institutions to apply for credit. Additionally, 41 percent of micro and 54 percent of small businesses appealed to commercial banks for credit facilities, loans, or other financial support.
Share of businesses that approached commercial banks for funding in Africa in 2020, by company size
* The source adds the following information: "The results are based on
337 responses and 210 fully completed questionnaires, with each respondent representing an enterprise that operates in one and/or all 54 African countries, and disaggregated as: 76 micro enterprises, 59 small-sized enterprises, 42 medium-sized enterprises and 33 large enterprises".
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
International Economics. (April 30, 2020). Share of businesses that approached commercial banks for funding in Africa in 2020, by company size [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1250359/share-of-businesses-that-approached-commercial-banks-for-funding-in-africa/
International Economics. "Share of businesses that approached commercial banks for funding in Africa in 2020, by company size." Chart. April 30, 2020. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1250359/share-of-businesses-that-approached-commercial-banks-for-funding-in-africa/
International Economics. (2020). Share of businesses that approached commercial banks for funding in Africa in 2020, by company size. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1250359/share-of-businesses-that-approached-commercial-banks-for-funding-in-africa/
International Economics. "Share of Businesses That Approached Commercial Banks for Funding in Africa in 2020, by Company Size." Statista, Statista Inc., 30 Apr 2020, https://www.statista.com/statistics/1250359/share-of-businesses-that-approached-commercial-banks-for-funding-in-africa/
International Economics, Share of businesses that approached commercial banks for funding in Africa in 2020, by company size Statista, https://www.statista.com/statistics/1250359/share-of-businesses-that-approached-commercial-banks-for-funding-in-africa/ (last visited December 22, 2024)
Share of businesses that approached commercial banks for funding in Africa in 2020, by company size [Graph], International Economics, April 30, 2020. [Online]. Available: https://www.statista.com/statistics/1250359/share-of-businesses-that-approached-commercial-banks-for-funding-in-africa/
