World CEOs forecast strong economic recovery this year
BY JACKSON OKOTH
Despite the uncertain environment, chief executives officers (CEOs) across the globe are confident the world’s economy will make strong recovery this year.
This is according to findings of PricewaterhouseCoopers(PwC)’s 14th Annual Global CEO survey, 2011.
The global CEO survey was launched at the World Economic Forum in Davos – Klosters, Switzerland last week.
Some 1,201 business leaders in 69 countries around the globe were interviewed. In this survey, 48 per cent of CEOs said they were ‘very confident’ of growth in the next 12 months, a major positive shift compared to last year.
Among CEOs with companies headquartered in Africa, 93 per cent were confident of growth over the next 12 months in their African markets, compared to 87 per cent last year.
Survey in Africa
This global picture is being presented when PwC is preparing to launch a survey of 170 CEOs in Africa and 100 companies listed on African stock exchanges.
The Agenda for Africa report will cover a broad range of industry sectors and analyse factors such as risk, growth, competition, innovation and climate change.
"A more extensive analysis of the African business environment by PwC later this year will shed even more light on what is happening on the continent and why," said Kuria Muchiru, Country Senior Partner for PwC in Kenya.
"Economies are diversifying and companies are expanding regionally and putting customers at the centre of innovation. This is what we are seeing on the ground, and what we will explore in greater depth in the report," added Muchiru.
Both the World Economic Forum in Davos and PwC’s global CEO Survey explored a new, post-recession world faced by global leaders.
The theme of the Davos Forum was ‘Shared Norms for the New Reality’ and included over 2,500 leaders from 100 countries representing business, civil society, government, academia and culture.
Some of the issues discussed included shifting global political and economic power from North to South and West to East.