The 28th Annual CEO Survey published by auditing and accounting firm, PwC has revealed that 70 percent of Chief Executive Officers (CEOs) in Ghana are confident of economic growth in 2025.
The survey further showed that 48 percent of CEOs in Ghana are confident about their company’s revenue growth in 2025.
According to the survey, while 77 percent of CEOs in Ghana believe Ghana’s economy would grow in 2025, a considerably reduced proportion (48%) are as bullish about their own companies’ revenue growth in the same year.
“More instructive is the finding that Ghana’s CEOs are less pessimistic about their businesses’ short-term prospects than when we posed that question to them just 12 months earlier—65% of Ghana’s CEOs, at that time, were very confident or extremely confident about their company’s 2024 revenue prospects”, it pointed out.
The report surveyed 4,701 CEOs in 109 countries and territories including Ghana from October 1 through November 8, 2024.
The global and regional figures in the report were weighted proportionally to country nominal GDP so the CEOs’ views are broadly representative across all major regions.
“However in this case, Ghana’s data is based on unweighted data from the sample”, the report said.
In his foreword, Country Senior Partner at PwC Ghana, Vish Ashiagbor explained that the survey shows a clear line of sight into the minds of CEOs, providing deep insights into what keeps them awake at night as well as offers them hope about the future.
“With more CEOs in Ghana participating in the survey compared to last year, we trust that the sentiments expressed in the results are representative of the points of view of the CEO community in general”, he said.
His disclosed that the important issues on the minds of CEOs in Ghanan include economics, geopolitics, AI/ GenAI, and climate change.
He mentioned for example that CEOs in Ghana are facing a host of near- or short-term shocks and long term developments — the effects of which are slowly felt, but which impacts on the future of businesses and their customers are no less profound.
“What the findings from the survey confirm is that shocks do not only throw up challenges—they produce opportunities too. And CEOs see these opportunities. However, not all businesses are agile enough to pivot and take advantage of the opportunities that arise in the wake of these shocks”.
He advised CEOs and other peer business leaders to not be complacent with the progress and successes they achieve in the short term.
“For instance, in the case of the Ghana results, CEOs’ optimism about economic prospects increased compared to the last survey—we noted that the currency stabilised a little and inflation dropped. Our suspicion is that this optimism might have led more CEOs in Ghana to believe their businesses would survive the next decade without the need to reinvent their business models. If true, this could be fatal for most CEOs”.
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