Dion Shango, PwC Africa CEO, at World Economic Forum on Africa. Photo: ANA.
Dion Shango, PwC Africa CEO, at World Economic Forum on Africa. Photo: ANA.

African CEOs less optimistic about global growth prospects

By ANA reporter Time of article published Sep 4, 2019

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CAPE TOWN - Pessimism about the growth of the global economy was rife among African chief executive officers, but they were still more optimistic than their global counterparts, a survey released at the World Economic Forum on Africa in Cape Town on Wednesday found.

"We saw globally that there has been a record rise in pessimism by CEOs when asked their views on what would happen with global GDP over the next 12 months," said Dion Shango, CEO for PwC Africa, while releasing the 7th edition of PwC’s Africa Business Agenda 2019.

"Africa-based CEOs tend to agree with that view, however the rise in pessimism is not so pronounced among Africa-based CEOs as for their global counterparts."

The African CEOs were also less optimistic about the ability of their own businesses to grow in the next year.

While many company bosses felt positive about the impact of technological advancements like artificial intelligence on their businesses, they decried the lack of skills among the continent's people.

"We have what is widely acknowledged as the largest young population of the world...yet all of these young people that we have don't appear to have the right or appropriate skills CEOs are looking for." 

- African News Agency (ANA) 

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