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Johannesburg - Of 41 South African CEOs surveyed by PwC, only 22% are “very confident” of their company’s growth in the next 12 months, according to a PwC survey report released this week.
This is less than the global average of 42%.
On the other hand, 37% of CEOs in South Africa are “very confident” about their company’s prospects for growth in the next three years, the survey found.
This is closer to the global average of 45% for the same measure.
About 37% of CEOs expect global economic growth to improve in the next 12 months – 20 points below the global average.
Commenting on the survey results, Dion Shango, CEO of PwC Southern Africa, said: “CEOs’ optimism in South Africa is more tempered than that of the developed economies, especially regarding their own organisations’ prospects for revenue growth.
“The state of the economy, unemployment and political uncertainty, among other issues, are casting a shadow over business expectations.”
The global survey results are based on interviews with almost 1 300 CEOs from 85 countries. They were released at the World Economic Forum annual meeting in Davos, Switzerland.
South African CEOs named the US (32%), the UK (27%) and China (24%) as the three most important countries for their organisations’ overall growth prospects in the next 12 months.
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