Research from PwC finds 45% of regional business leaders expect AI to increase profitability in the next year.
By Maggie Mancini
Almost two-thirds (63%) of CEOs in Sub-Saharan Africa say they are increasingly optimistic about the future of the global economy, according to PwC’s Annual Global CEO Survey: Sub-Saharan Africa perspective report. At the same time, half of this cohort has entered new sectors in the past five years in an effort to embrace reinvention more aggressively, which demonstrates a greater appetite for transformation and strategic diversification.
There is evidently increasing economic optimism across Sub-Saharan Africa as 63% of CEOs on the continent (compared 58% globally) are expecting improved global economic growth over the next 12 months. This sentiment is particularly notable given that in the previous year, only 51% of the region’s CEOs shared this outlook.
CEOs are also increasingly focussing on the factors that will drive their economic viability in the coming years. Nearly two-thirds (64%) identified making the correct strategic choices and enhancing organisational efficiency as the factors that will most influence their businesses’ economic viability. This is notably higher than their global counterparts, where 55% and 48% respectively shared this view. What remains a significant concern for 57% of these CEOs is potential changes in the regulatory environment—higher than the global average of 42%.
As global forces reshape the business landscape, Sub-Saharan Africa business leaders find themselves at a critical point. They are being driven to reinvent their business models due to several crucial factors—these include ensuring business viability, adaptation to disruption and key megatrends, and navigating key business and risk challenges.
Despite these key challenges, there is a story of resilience and optimism. More than half (61%) of CEOs are confident in their businesses’ long-term viability, projecting sustainability beyond the next decade.
Businesses in Sub-Saharan Africa are showing slightly lower AI adoption rates compared to global figures (75% versus 83% globally). Despite this, PwC’s impact data shows encouraging signs of effective implementation. Business leaders are seeing notable gains in efficiency, with 56% reporting increased employee productivity and 53% noting improvements in executive time management—both comparable to or exceeding global benchmarks.
Most regional business leaders (72%) plan to adopt or expand their AI initiatives in the next 12 months (compared to 80% globally), and this is being done as they project meaningful returns: 45% expect AI to increase profitability in the coming year.
“Sub-Saharan Africa business leaders are taking a balanced approach to AI adoption and moving purposefully rather than rushing to match global adoption rates,” says Christiaan Nel, AI leader at PwC Africa. “The data shows that they are achieving comparable or better efficiency gains when AI tools are implemented, and this suggests that AI is being integrated thoughtfully into existing transformation initiatives. This strategic approach should always align with an organisation’s broader business reinvention efforts—and for it to have the best chances of being successful, trust in these AI solutions will be paramount.”
