East Africa CEO's optimistic about global economic outlook

A recent survey conducted by PwC has revealed that a significant number of CEOs in East Africa are optimistic about the economic growth in their territory and anticipate global economic growth in the coming year. The survey, which engaged 169 CEOs across six countries in East Africa, paints a mixed outlook for the region. Peter Ngahu, Regional Senior Partner at PwC Eastern Africa, discussed the findings of the survey in an exclusive interview with CNBC Africa. Ngahu highlighted the positivity and optimism expressed by East Africa CEOs towards economic growth, which he noted was not as prevalent across the continent. He emphasized that the region's embrace of sustainability and the high scores of CEO sentiment were particularly encouraging. Additionally, the CEOs' positive outlook on technology, specifically generative AI, as a key driver of growth for businesses, was also a promising trend identified in the survey. The key highlights from the survey included the overwhelming positive sentiment among East Africa CEOs, with 72% of them expecting growth. This optimism was further underscored by CEOs recognizing the importance of technology, particularly generative AI, in fueling growth for their companies. Furthermore, the survey emphasized the necessity for business reinvention as a critical factor for achieving growth in the region. Commenting on the findings, Ngahu expressed his optimism for the region, stating that the alignment of positive trends and initiatives within organizations could pave the way for significant growth opportunities. He emphasized the importance of CEOs driving these initiatives within their companies to capitalize on the region's potential. The survey results indicate a strong sense of confidence and readiness for growth among East Africa CEOs, setting a positive tone for economic prospects in the region. With a focus on sustainability, embracing technology, and fostering business reinvention, East Africa is poised to leverage these opportunities for long-term growth and development.