Survey: CEOs in Africa more optimistic about economic growth
The PwC surveys CEOs around the world each year, with just under 1,400 taking part in the latest one.
CAPE TOWN - Chief executives based in Africa are more optimistic than their global peers about economic growth and revenue prospects, a survey by PwC suggests.
The company surveys CEOs around the world each year, with just under 1,400 taking part in the latest one.
All are in charge of businesses commanding revenue of more than a billion dollars a year, and 171 of them are CEOs based on the African continent.
A summary of their views, the African Business Agenda, was released as the World Economic Forum on Africa under way in Cape Town on Wednesday.
PwC Africa’s chief executive officer Dion Shango said concerns about trade wars, protectionism and rising nationalism dampened the hopes of most of the CEOs surveyed, reflecting “a record rise in pessimism”.
But Shango said this wasn’t the case with responses from Africa.
“The rise in pessimism isn’t quite as pronounced by the Africa-based CEOs as it is for their global counterparts.
"When Africa-based CEOs were asked what they think would happen with the revenue their companies would generate over the next 12 months, they again showed considerably more optimism.”
Shango said Africa-based CEOs also acknowledged that artificial intelligence had had a significant impact on their businesses over the past years and expected this to intensify.
However, he said surprisingly, few CEOs already had strategies to prepare them for a digital future.