East Africa CEOs are optimistic about the growth prospects of their countries’ economies and their industries. Strategic alliances with third parties, Mergers & Acquisitions and organic growth are among the strategies the CEOs will be engaging to drive growth while diversifying sources and locations of input to strengthen their supply chains for business resilience.
Since Covid-19 was declared a pandemic, business leaders across the globe continue to show resilience by adjusting and continuously formulating strategies to address the dynamic economic circumstances presented by the pandemic. Through the KPMG surveys of CEOs conducted in January/February 2020 (pre-Covid), July/August 2020 (during the pandemic) and July/August 2021 (18 months since the pandemic), we have witnessed the agility of CEOs’ strategies and focus has shifted. Despite the slow pace in the availability, roll out and uptake of the vaccine in East Africa, CEOs are optimistic that the future looks promising.
86 percent of East Africa CEOs are confident about the growth prospects of their countries’ economy, a significant jump from 32 percent during the pandemic. These CEOs are considering diverse growth levers with strategic alliances with third parties including those of data providers featuring prominently. Supply chain risks, however, remain a major threat for companies in East Africa with 74 percent of the CEOs noting that their supply chains have been under increasing stress over the past 18 months. To support their growth ambitions, 40 percent of the CEOs plan to increase their workforce between six and ten percent.
CEO & Senior Partner
KPMG East Africa