Thriving in an age of continuous reinvention

CEOs in Africa are less likely than global CEOs to agree that generative AI will significantly change the way their companies create, deliver and capture value over the next three years. Similarly, they are less likely to agree that generative AI will increase competitive intensity in their industries. While AI is increasingly a feature or attribute of tech-led transformation, particularly for cloud solutions, it is not the reason or impetus for CEOs in Africa to embark upon transformation - yet.

In Africa, we are uniquely positioned to take advantage of the significant benefits presented by the adoption of cloud technologies. Africa is dynamic, entrepreneurial, and has a youthful population that is more receptive to technology disruption and transformational change. At the same time, Africa faces peculiar challenges not experienced in other parts of the world, which result in enormous potential for cloud solutions. We are on the cusp of major change, and Africa’s customers and businesses are driving that change.

Nimble resource reallocation is an acknowledged attribute of high-performing companies, and remains a critical area for CEO attention in Africa. Globally, 64% of CEOs reported reallocating 20% or less of resources from year to year, the same percentage as Africa CEOs. At a granular level, 28% of global CEOs cited resource reallocation of 10% or less, compared to 34% in Africa.

African CEOs report slightly higher levels of action than their global counterparts on their progress against climate-related initiatives. While this is the case for the majority of responses, trends in terms of where the levels of focus are for action being taken are similar for both African and Global CEOs.

As organisations grow and change, their tax compliance requirements can also shift. Our survey shows that over half of CEOs globally and in Africa expect a net increase in prices and/or services in 2024. This expectation is an opportunity to ensure that data quality is enhanced and organisations have the full insights of all aspects of their compliance lifecycles.

Regular reviews of corporate strategy and portfolio allow organisations to navigate market opportunities and mitigate risks. Acquisitions can support strategic execution and create new opportunities, and our survey shows that 44% of CEOs in Africa plan at least one major acquisition in the next three years. Strategic partnerships are another opportunity, which 45% of CEOs in Africa say has changed the way they create value over the last five years.