A new report by international auditing company PricewaterhouseCoopers (PwC) show only 22 percent of South Africa’s chief executive officers (CEOs) are “very confident” of their company’s growth in the next 12 months.

The Wednesday report by PwC, which interviewed 41 CEO from listed and privately-owned companies, said 98 percent of the country’s CEO are “extremely concerned” about social instability, 93 percent about regulation and 93 percent about unemployment.

It shows 37 percent of South African’s CEOs are slightly more confident about their own company’s prospects for revenue growth over the next three years.

The report also indicate that 37 percent of the South African CEOs expect the global economic growth to improve in the next 12 months.

“CEOs across every region and country recognize that the world is moving away from measuring prosperity primarily through financial measures, like gross domestic product, towards a more integrated approach that measures prosperity through multifaceted metrics, for example quality-of-life indices. Defining those metrics and capturing the data to accurately measure them will be a priority item on the business agenda in the coming years,” said Dion Shango, CEO of PwC Southern Africa.

PwC also said 93 percent of the South African CEOs fear uncertain economic growth, 90 percent exchange rate volatility and 88 percent fear populism.

According to the survey, 37 percent of South African CEOs want to increase head count this year while 22 percent expect reduction due to automation and other technologies. Enditem


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