AFRICA MSME PULSE SURVEY- 2024

The Africa MSME Pulse Survey 2024 marks the third edition of this crucial study. It bridges the data gap in understanding the dynamic world of Micro, Small, and Medium Enterprises (MSMEs) across Africa. These businesses are the backbone of the continent's economies, driving employment, innovation, and growth. Yet, the lack of comprehensive data hinders effective support for this vital sector.

This year's survey builds upon previous themes, focusing on core areas like employment trends, business environments, access to financing, and technology adoption. Recognizing the evolving nature of MSMEs and the broader economic landscape, the 2024 edition incorporates new themes:

  • Deep dive into digital transformation trends
  • Exploring the impact of global economic shifts
  • Strategies adopted by MSMEs to navigate a complex market environment
View Report

Key Findings

Employment Trends

The survey reveals a complex picture of employment practices, hiring challenges, and the impact of economic conditions on staffing within these enterprises over the past two years.

Business Environment

In 2023, a majority (55.33%) felt the business environment had improved. However, in 2024 only 23.64% hold that optimism, with 65.71% reporting a worsening scenario

Main Challenges Affecting MSMEs

Inflation and high prices are overwhelmingly cited as the primary challenge (67.53%). This enhanced survey serves not only as a mirror reflecting the current state of MSMEs in Africa but also as a compas