The latest PwC CEO Survey in Africa report identified inflation and macroeconomic volatility in Sub-Saharan Africa as the two biggest threats to businesses in 2024.
However, when asked about what they believe are the major threats to their businesses in the next 12 months, Sub-Saharan CEOs noted inflation and macroeconomic volatility as significant concerns. The report added that African countries with high levels of indebtedness – such as South Africa – face increased vulnerabilities under the current economic conditions.
Finance Minister Enoch Godongwana noted in his Budget Speech that debt-service costs will absorb more than 20% of revenue.
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