PwC Mauritius unveils the findings of its CEO Survey, derived from the 27th edition of the Global CEO Survey, in a context marked by economic changes and multiple crises, particularly in terms of climate change and wars in various regions of the world.
This study examines how leaders view the transformations they are making within their organizations. The results presented in this report reflect the resilience of Mauritian businesses.
In a context of multiple crises and an electoral year where more than half of the global population will collectively cast their votes – including India and Mauritius, the study reveals that 83% of Mauritian leaders believe that the global economy will improve by 2024, while 57% expect a recovery within the next three years.
Additionally, 64% of industry captains at the local level report high levels of confidence in the revenue growth of their respective companies in the short term.
The European Union remains a significant player for Mauritian CEOs, with France leading as a key driver of their growth prospects (40%). South Africa closely follows (34%), with Kenya in third place (26%), but Africa as a whole represents 63%, demonstrating strong relations between Mauritius and the continent.
The United Kingdom and the United States complete the top five countries in terms of importance for revenue growth prospects.
Uncertainties regarding inflation and geopolitical turmoil remain a concern for many companies. Visibility is currently very low, making it difficult to predict market and consumer trends.
Various external factors, such as regulatory frameworks, technological changes, evolving customer preferences, and competitor actions, have led Mauritian business leaders to evolve the way their organizations create value.
At the same time, they are becoming more aware of the need for change and innovation they themselves are facing.
This transformation exercise, however, remains complex and subject to significant barriers, such as regulatory obligations (81%), limited resources (77%), and lack of technological solutions (60%), among others.
Generative AI is seen as a growth driver that piques the interest of Mauritian leaders. Although 68% have not fully integrated it into their operations compared to 32% globally, over a 3-year projection, 77% believe it will transform how their company creates value and 72% believe their employees will need to develop new skills.
The survey confirms the progress made in recent years in addressing climate change by Mauritian leaders. 70% of them report implementing actions to improve their organization’s energy efficiency.
Growth prospects remain favorable in Mauritius, being one of the most competitive economies in Africa.
Mauritian CEOs interviewed share a relative confidence in the island’s economic growth prospects, fueled by strong regional and international ties.
While strategies may vary from one company to another depending on the action plan, operational model, industry context, and competitive landscape, it will be crucial to overcome operational challenges and other essential elements for their survival to take advantage of these growth opportunities.
Source: Le Mauricien
