Financial impact of COVID-19
Surviving the next 4 weeks...and then the next 3 months
Events have unfolded rapidly since the first COVID-19 case was reported in Nigeria on 27 February 2020. Some profitable and well-managed companies have already taken drastic steps to maintain headroom since no one can tell when the pandemic will come to an end.
The ability to simply trade in the short term in sectors such as aviation, retail, leisure and hospitality is being compromised as a result of COVID-19. The impact of the pandemic is also being felt by other sectors of the economy resulting in quite dramatic and serious challenges. While businesses need to continue to focus on retaining the core business fundamentals that have made them successful, the immediate concern is survival.
This publication addresses action which companies should take to improve the immediate cash position while identifying and addressing existential risk.