Confidence from consumers in six major urban centers in Africa dropped again in September. The KASI Consumer Perception index, the KIC Score dropped 5 points to +5 from +10 in August. The current economic conditions metric remained negative at -21 while the economic expectations metric remained positive at +16.
The September readings of the KIC score range from -13 (Abidjan) to +20 (Douala). This is a somewhat a tighter range than the August readings, where the KIC ranged from -11 (Abidjan) to + 26 (Lagos). In September, Abidjan and Accra have turned negative while Lagos has seen the biggest drop in confidence. Douala remains the bright spot.
City level highlights from the September release: Douala (Cameroon) - Consumer confidence remains positive.
Douala remains a city with overall positive consumer sentiment
In fact, the overall KIC score rose 5 points to +20 in September compared to +15 in previous month
Consumer perception on current economic conditions moved up slightly in September +2 compared to -1 in previous month
Consumer perception on future economic conditions rose 6 points to +27 vs +21 in August
Nairobi (Kenya) - Consumer confidence stays flat in September.
Nairobi remains a city with overall positive consumer confidence
The overall KIC Score stayed flat at +4 in September
Consumer confidence on current economic conditions dropped 20 points to -20
Consumer confidence on future economic conditions hit +13 up 13 points from August.
Accra (Ghana) - Consumer confidence dropped in September.
Accra moved back in the red after a positive month in September
The overall KIC Score hit -2 down 12 points from previous month
Consumer confidence on current economic conditions dropped 6 points to reach -4
Consumer confidence on future economic conditions also dropped 13 points to reach -1
Lagos (Nigeria) - Consumer confidence is down in September.
Consumer confidence in Lagos dropped significantly in September
The overall KIC Score hit +10 down 16 points from previous month
Consumer confidence on current economic conditions dropped 13 points to -38
Consumer confidence on future economic conditions dropped 15 points to +29
The overall decline in the score is across the board and reflected in each metrics
Abidjan (Ivory Coast) - Consumer confidence is down in September.
Consumer confidence in Abidjan dropped significantly in September
The overall KIC Score hit -13 down 2 points from previous month
Consumer confidence on current economic conditions dropped 6 points to -28
Consumer confidence on future economic conditions remained flat at -6
Johannesburg (South Africa) - Consumer confidence is down in September.
Consumer confidence in Joburg dropped slightly in September
The overall KIC Score hit +12 down 2 points from previous month
Consumer confidence on current economic conditions dropped 7 points to -38
Consumer confidence on future economic conditions remained flat at 32
--30--
About the KIC Score
Released every month, the KASI Insight Consumer Perceptions Index (KIC Score) provides a focused view on consumer perceptions in key African cities where most spending in the continent is concentrated. The survey provides a simple measure of consumers’ perceptions about their economic prospects in the near term and attitude towards making major purchasing decisions. Subscribe now
About KASI Insight
KASI Insight is Africa’s most innovative research and advisory firm! Since 2013, we have built the capacity to disrupt the African market research industry. We deliver a typical project involving several thousand respondents in as many as 10 African countries in 15 days. The comprehensive reports we deliver for our clients present facts-backed analyses from highly experienced professionals.
Contact our team today to explore how our consumer intelligence can empower your decision-making process. Win with confidence with Kasi insights https://www.kasiinsight.com/thehub