97% of African CEOs have confidence in their companies’ prospects in terms of revenue growth in the medium term, despite Africa’s unpredictable economic and socio-political climate. That’s according to PwC’s latest Africa Business Agenda.
As reported by Blueprint, PwC Africa CEO Hein Boegman says that this ‘level of optimism is the highest recorded since we started our research on Africa CEOs in 2012. However, in the past year we have seen a change in the outlook for some countries as external developments impact many of the drivers of Africa’s growth’.
The top three African cities in terms of opportunity for growth include Johannesburg (36%), Lagos (16%) and Cape Town (14%), while CEOs looking to international markets for growth potential consider the US to be in top spot (31%), followed by China (28%) and the UK (24%).
‘CEOs recognise that while they focus on organic growth and cost reductions, they also need to prioritise investment in new strategic alliances and joint ventures to expand their markets and grow their customer bases,’ PwC states in its report.
