Ninety percent of South African chief executive officers (CEOs) are confident about prospects for revenue growth in the next 12 months, according to PricewaterhouseCoopers’s (PwC’s) fourth annual CEO survey, released on Wednesday.
The survey found, however, that the biggest concern for CEOs was the threat and impact of social unrest.
The survey was conducted across 56 CEOs in all major sectors, from September to November last year — after the Marikana mining tragedy in August but before the Mangaung elective conference of the African National Congress in December.
Confidence for global growth among South African CEOs grew from 3% in 2011 to 16% in 2012.
PWC’s 16th Global CEO survey, released at the World Economic Forum meeting in Davos on Wednesday, was based on interviews with 1,330 CEOs from 68 countries.
The global survey found the number of CEOs who expressed confidence in the growth of the global economy had improved, from 15% in 2011 to 18%. Confidence for global growth among South African CEOs grew from 3% in 2011 to 16% in 2012.
Commenting on the local survey, PwC financial services leader Tom Winterboer said while South African businesses and government were both aware of the need to take steps to remedy the social unrest situation, business was also concerned about the cost impact.
"We live in a very volatile time," said PwC CEO for Southern Africa Suresh Kana. "But in a global economic sense, we seem to be in a better space than we were a year ago," Mr Kana said.