eBusiness Weekly
Business Writer
Business leaders, particularly those in Africa, are less certain about expansion outside of their current markets, but will focus on achieving operational efficiencies and organic growth within existing operations, results of PwC’s latest Annual Global CEO Survey suggest.
According to the report, instead of looking across the continent for exponential growth, business leaders are a lot more cautious when it comes to expansion and growth.
Commenting on the survey findings, Dion Shango, CEO for PwC Africa, said economic and policy uncertainty in the continent, among other issues, have cast some doubt upon business leaders’ hopes for immediate and future growth.
“Although there is a drop in optimism, African business leaders do see some opportunities on the continent — but overall, they are playing it safe,’’ Shango said.
The annual survey provides an in-depth analysis and insights into how businesses are adapting to meet the challenges of operating in Africa.
Notwithstanding the current economic climate and other challenges, there is notable optimism among business leaders about the potential to unlock more growth on the continent.
Ongoing economic, social and political uncertainty is a perennial worry for CEOs globally, not least for those in Africa.
Concerns over policy uncertainty, skills shortage, over-regulation, and exchange rate volatility lead to the long list of risks causing anxiety for CEOs in all regions.
A consistently higher proportion of African CEOs say they are “extremely concerned” about these issues compared to their global peers.
