CHIEF Executive Officers (CEOs) in the country are 70 per cent optimistic about the prospects for revenue growth over the next 12 months, according to a recent report by Price Water Coopers.
CEOs in Ghana (94 per cent), Zimbabwe (90 per cent), Rwanda (87 per cent) and Nigeria (77 per cent), show the highest level of optimism, while CEOs in Gabon (30 per cent), Tunisia (20 per cent) and Côte d'Ivoire (17 per cent) were the least confident.
In Tanzania, The Africa Business Agenda shows that CEOs are increasingly becoming more confident with their companies prospects of revenue growth in the short and medium term. This is a reflection of the sustained economic growth Tanzania has been enjoying over the years.
"A challenge that many are facing is the lack of adequate infrastructure such as road networks and unreliable electricity.
However, these are slowly being addressed by the government," PwC Tanzania Senior Partner, Leonard Mususa said in a statement. The greatest risks to confidence and growth are bribery and corruption and government not delivering on its promises, according to PwC's Africa Business Agenda publication released.
These and other risks to growth prospects are not new to business and include inadequate infrastructure and a shortage of skills.
The agenda compiles survey results from 301 CEOs in Africa and includes insights from business and public sector business leaders from 22 countries. The publication shows that most CEOs in Africa feel confident about their approach to managing risk, despite some volatility and uncertainty.
To manage change and grow their companies, CEOs in Africa say that they need to employ the right people. Talent management strategies are helping them to recruit the best and the brightest--from their home markets, the Diaspora and specifically from within Africa.
"What we have found in 'The Agenda' is that agility in response to change, challenge and opportunity is the deciding factor between companies that thrive in Africa and those that are merely doing business," PwC Senior Partner for Africa, Suresh Kana said.
