Davos 23: Healthcare business sector faces headwinds in 2023

The global healthcare business sector is facing unprecedented challenges in 2023, with risks stemming from global warming, climate change, and geopolitical tensions affecting investment opportunities, particularly in the African continent. In an exclusive interview with CNBC Africa, Stanley Bergman, the CEO of the world's largest producer of healthcare products, shared his insights on the current economic environment. Bergman highlighted the top concerns impacting the healthcare industry, emphasizing the need for strategic planning and adaptation to navigate these turbulent times. One of the primary concerns Bergman addressed was the environmental impact on business operations. He recounted a personal experience of witnessing the effects of climate change during a recent skiing trip in Europe, where he noted the lack of consistent snowfall in the region over the past few years. Bergman expressed his apprehension about the slow progress in addressing climate crisis mitigation and adaptation by world leaders and underscored the urgency of taking decisive action to combat environmental challenges. Furthermore, Bergman discussed the geopolitical risks facing the global economy, particularly highlighting the ongoing crisis in Ukraine. He described Ukraine as a focal point in discussions involving world leaders and emphasized the need for stability in the region to prevent further escalation of tensions. Despite the looming threat of a global recession, Bergman expressed cautious optimism, citing low unemployment rates globally as a positive indicator for economic resilience. As a South African native who has resided in the United States for over four decades, Bergman reflected on the political and economic landscape of his home country. He commended South Africa's progress towards democracy and emphasized the importance of upholding democratic principles, a free market economy, and a free press. Bergman expressed confidence in South Africa's future prospects, highlighting the resilience of its people and the country's commitment to democratic governance. In conclusion, Bergman discussed his personal investments in South Africa and his philanthropic initiatives, emphasizing his ongoing support for the country despite the challenges, including the recent energy crisis. While acknowledging the obstacles facing South Africa, Bergman reaffirmed his belief in the country's potential for growth and development, underscoring the importance of continued investment and support for its people. As the global healthcare business sector navigates a complex web of challenges in 2023, leaders like Stanley Bergman provide insights into the strategic responses needed to address these risks and ensure sustainable growth in the industry.