Struggling GDP growth, policy uncertainty top concerns for pessimistic South African CEOs – report
South African CEOs are far more worried than their international peers about uncertain economic growth, policy uncertainty and social instability, according to a new report by PwC.
The results stem from PwC's 23rd Annual Global CEO Survey, which included interviews with 1 581 CEOs from around the world, including 36 from South Africa.
"In South Africa, CEOs face a set of unique local challenges, which only seem to add to the global realities they face," state the report's authors, adding that "in almost every region, [CEOs] show significantly diminished confidence in their own organisation’s 12-month revenue growth prospects."
Over half of South African CEOs polled were "extremely concerned" about uncertain economic growth, policy uncertainty, social instability, over-regulation and unemployment. The International Monetary Fund downgraded SA's projected 2020 economic growth to just 0.8% earlier in the week, while the SA Reserve Bank expects South Africa's economy to grow by just 0.4% in 2019.
Over 40% of South African CEOs, meanwhile, say they are extremely concerned about populism, the availability of key skills and exchange rate volatility, all higher than global averages.
The PwC study found that pessimism regarding global growth held across all the regions it polled. In total, 53% of global respondents said they expected world growth to fall in the next 12 months. For South Africa, this number was 44%, with only 17% saying they project global growth rates to rise.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation