Africa Business Agenda

Thriving in an age of continuous reinvention

Overview

PwC released its 27th Annual Global CEO Survey which polled 4,702 CEOs in 105 countries and territories from 2 October to 10 November 2023. From a sub-Saharan Africa perspective, 380 CEOs were interviewed, from which we have analysed regional factors in more depth — we call this publication, the PwC Africa Business Agenda.

Findings from our Africa Business Agenda suggest that CEOs in Africa are more optimistic about growth prospects, the longevity of their organisations and the revenue outlook compared to their global counterparts — 51% of CEOs are more likely to expect global growth to improve in 2024 compared to a 38% global sentiment. A smaller percentage (34%) in Africa expects the global economy to decline as compared to global CEOs (45%).

CEOs in Africa also report significant revenue growth (16%) over the last year as compared to 12% among CEOs globally. Local or regional opportunities to grow their businesses may explain the relative optimism of Africa CEOs compared to CEOs globally. The past year’s performance is also boosting forward-looking sentiment, with a higher percentage of Africa CEOs reporting growth prospects in their territory over the next 12 months (52%) as compared to global CEOs overall (44%).