About 20 million jobs are at risk in Africa as the continent’s economies are projected to shrink this year due to the impact of the coronavirus pandemic, according to an African Union (AU) study.

Under what the AU researchers deemed their realistic scenario, Africa’s economy will shrink 0.8%, while the pessimistic scenario said there would be a 1.1% dip.

According to the study, up to 15% of foreign direct investment could disappear.

“Nearly 20 million jobs, both in the formal and informal sectors, are threatened with destruction on the continent if the situation continues,” the analysis said.

African governments could lose up to 20 to 30% of their fiscal revenue, estimated at 500 billion in 2019, it found.