Struggling GDP growth, policy uncertainty top concerns for pessimistic South African CEOs – report
23 January 2020
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 SA's economy to grow by just 0.4% in 2019.