CEO pessimism could put brakes on investment, PwC says
A PwC survey shows that globally, 42% of CEOs expect economic growth to improve but in SA, only 30% of those surveyed expect an improvement
South African CEOs have become extremely concerned about political, social and economic threats in the country and are treading carefully regarding expansion plans, which is likely to affect their level of investment in 2019, a PwC study has shown. The annual global CEO survey, which the firm released on Tuesday, showed a record jump in pessimism, with 29% of CEOs globally projecting a decline in the rate of economic growth. Although globally, 42% expected economic growth to improve, in SA, only 30% of surveyed CEOs expected an improvement. The survey was conducted in September and October. “There’s a lot of internal focus in most businesses and not just in SA. They want to grow organically and it will likely impact inbound investments into SA. Local businesses also don’t seem to be gearing themselves up for big investments and mass expansion. It could unfortunately put further brakes on growth,” said Lullu Krugel, chief economist for PwC Africa. With the general elections coming up...
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