August was another tough month with the impact of COVID-19 weighing on business activities in general. Companies are still cutting back on spending and feedback is most budgets are frozen until Q4 2020 or reduced untill the end of the year.
We have had a number of prospects requesting paid trials. We have decided to entertain this so we have some cash flowing in taking us to the end of this year. We expect September and October to be tough months on the sales side, although with increased activity with the pipeline growing further. At the end of August, the pipeline closed at $1.3 million of warm & hot leads.
The commercial team’s focus would be to nurture these leads to ensure we can close them in Q4.
Strengths
- Only content provider with a team based in Africa
- Best content management team
- Best commercial management team
Weaknesses
- Cash flow pressure during a pandemic
Opportunities
- We have partnership opportunities with country governments & investment funds which will provide us critical content and prestige
- Demand for an alternative content provider for the Middle East
Threats
- Both MEED & BNC has announced they are rolling out an Africa product