Key points:
- 63% of sub-Saharan CEOs expect global economic growth
- AI adoption and sustainability drive business reinvention
- CEOs focus on resilience amid inflation and regulatory risks
SUB-SAHARAN Africa’s business leaders are expressing renewed optimism about the global economy’s future, with 63 percent of CEOs in the region anticipating improved economic growth in the next 12 months. This marks a significant rise from 51 percent the previous year, reflecting a growing sense of resilience and adaptability among African businesses, according to PwC’s 28th Annual Global CEO Survey.
Under the theme From Resilience to Reinvention, the report highlights how African CEOs are navigating complex global challenges with agility and foresight, positioning their organisations for long-term success.
Rising confidence in economic growth
The survey reveals that sub-Saharan Africa’s CEOs are more optimistic than their global peers, with 63 percent expecting stronger economic growth compared to 58 percent globally. Lullu Krugel, PwC South Africa’s Chief Economist and Africa Sustainability Leader, attributes this confidence to several factors.
‘Declining interest rates, a downward trend in inflation, improved energy security, and increasing fuel exports are key drivers behind the region’s positive outlook,’ Krugel notes.
This surge in optimism sets a strong foundation for business strategies, with CEOs focusing on strategic decisions that enhance efficiency and resilience. Nearly two-thirds (64 percent) of CEOs identified making the right strategic choices as the most critical factor influencing their companies’ viability—higher than the global average of 55 percent.
However, regulatory uncertainty remains a major concern. About 57 percent of sub-Saharan CEOs view changes in the regulatory environment as a significant risk, surpassing the global average of 42 percent.
Reinvention as a strategic imperative
Sub-Saharan Africa’s business landscape is undergoing rapid transformation. PwC’s survey highlights that 50 percent of companies have entered new sectors over the past five years, reflecting a strong appetite for diversification and reinvention.
Hannelie Gilmour, PwC South Africa’s Consulting and Transformation Platform Leader, emphasises the need for bold changes.
‘Business model reinvention is not just about incremental improvements. It involves fundamentally transforming the value proposition, profit formula, and operational capabilities,’ she explains.
Despite facing inflationary pressures—cited as a concern by 42 percent of CEOs, compared to 27 percent globally—African business leaders are confident in their long-term prospects. A striking 61 percent believe their businesses will remain viable beyond the next decade, significantly higher than the global average of 55 percent.
Olufemi Osinubi, PwC Nigeria’s Consulting and Risk Services Leader, notes: ‘This surge in confidence reflects a shift from merely acknowledging challenges to actively embracing transformation as a pathway to sustainable growth.’
AI adoption: a balanced approach
While sub-Saharan Africa’s AI adoption rate (75 percent) slightly lags behind the global average (83 percent), the region’s CEOs are taking a measured, strategic approach to implementation. Encouragingly, 56 percent of businesses report increased employee productivity due to AI, and 53 percent note improvements in executive time management—figures that rival global benchmarks.
Christiaan Nel, PwC Africa’s AI Leader, highlights the region’s thoughtful adoption strategy:
‘African CEOs are integrating AI into broader transformation initiatives rather than rushing to match global adoption rates. This ensures AI contributes meaningfully to business reinvention.’
Looking ahead, 72 percent of CEOs plan to expand their AI initiatives within the next year, with 45 percent expecting AI to drive profitability.
Sustainability at the core of business strategy
Sustainability has become a strategic priority for African businesses. The survey reveals that only 23 percent of sub-Saharan CEOs have no sustainability metrics tied to their compensation, compared to 32 percent globally. Notably, 9 percent of regional CEOs have more than 50 percent of their compensation linked to sustainability goals—more than double the global average.
Krugel explains: ‘This underscores a stronger commitment to sustainability in Africa, where businesses are embedding environmental and social goals into their core strategies.’
However, challenges remain. Only 32 percent of CEOs reported revenue growth from climate-friendly initiatives, and 69 percent noted minimal government incentives to support sustainability efforts.
Turning challenges into opportunities
While CEOs in sub-Saharan Africa face significant risks—including inflation, cyber threats, and geopolitical tensions—they are leveraging these challenges as catalysts for growth.
Dion Shango, PwC Africa’s CEO, summarises this strategic shift: ‘Today’s business environment demands more than resilience; it requires reinvention. African CEOs are no longer just managing uncertainty—they’re harnessing it to drive innovation and competitive advantage.’
The report urges business leaders to act swiftly. Whether addressing climate change, technological disruption, or regulatory shifts, organisations that adapt and innovate will be best positioned for long-term success.
The future belongs to the bold
PwC’s 2025 CEO Survey paints a picture of a region on the rise. Sub-Saharan Africa’s business leaders are not just optimistic—they are proactive, transforming their organisations to thrive in an ever-changing global landscape.
The message is clear: the future belongs to those who embrace change, invest in innovation, and view challenges as opportunities for growth.
As CEOs across the continent prepare for the year ahead, one thing is certain—Sub-Saharan Africa is ready to lead, innovate, and shape the future of global business.
