South Africa's SMEs Slowly Regaining Trade

Payments solution provider Yoco's ongoing Small Business Recovery Monitor shows trade is improving as South Africa gradually emerges from lockdown. According to the Independent Online, which partners with Yoco on the Monitor, as of 27 August trade across the nation was at 80% of pre-COVID levels. 

The battered hospitality industry is among the biggest beneficiaries of the move to level 2 of lockdowns. Hospitality grew 18% since level 2 was imposed, and is at 72% of pre-COVID trading levels. 
     

The Small Business Recovery Monitor uses transaction data flowing through Yoco's platform to measure trading levels against a pre-lockdown benchmark. While the Monitor shows great progress for small businesses, it also illustrates the depth of the challenge they face in recovering. 

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