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The issue of the effect of business model reporting on investors’ perception of performance in an uncertain socio-political context is little addressed. The objective of this paper is therefore to analyze the impact of information disclosure, in terms of the evolution of the business model, on regional stock exchange (Côte d’Ivoire) investors’ perception of the performance of firms. The results of the study suggest that in an uncertain socio-political environment marked by technological change, modifications to existing business models, as well as the development of new models, are used by organizations to adapt to the new constraints of the environment. The results also show that reporting on business models, in terms of novelty, complementarity between outputs, and intention accounting positively affects the perception of firm performance of investors. However, the effect of efficiency-oriented business model reporting on performance perception is not significant. In addition, in this type of environment, the lock-in of business model participants is no longer appropriate and negatively affects investors’ perception of performance. The results generally call for business model reporting in the annual reports of firms in order to better inform investors, especially when the environment is very uncertain, as it is in Africa.