September 20 saw the unveiling of a report that shows that an overwhelming majority of African company executives are hopeful for better economic gains in some ten high-opportunity nations in Sub-Saharan Africa.
The author of the report, PricewaterhouseCoopers revealed that the optimistic tone comes from a feeling that the continent has continued to attract investments even as the rest of the world goes on recession.
One of the regions that the economic report cited as highly-potential is the East African bloc, which may become a hub of power resources following the finding of petroleum reserves in the Turkana area of Kenya, as well as the Western Uganda great lakes region.
The 200 executives who participated in the survey revealed that there are going to concentrate on improving their provisions, consolidating their office departments and increasing their regional reach in order to share in the pie of the expected growth.
However some of the CEOs, especially from Kenya, appeared pin-pointedly pessimistic with regard to the infrastructure condition.
An example of the concerns comes from Caesar Mwangi of the Sasini Ltd, who said that the agricultural niche is highly affected by poor feeder roads that make it impossible to distribute produce from the plantations despite the increment in yields.
Voicing the same concerns was the chief culprit, the Ministry of Roads, with the PS Michael Kamau decrying that the poor infrastructural conditions stem from inadvertent denomination rates that lead to exacerbation of tarmac costs for surfacing roads.
The story of how changes in infrastructure can fast-track growth represented the views of 60% of all respondents.
Another issue that received headway by 85% of the executives was the bittersweet enigma of whether the talent that Africa has shown remarkably of late is a blessing or a risk. Many CEOs are of a bleak view with fifty-four percent of them saying that their expenditure in talent development hiked over the last one year. The characteristic example is that of ‘poaching’ highly-skilled staff and the reversal situation of employing managers that lack expertise.
The talent pool is so huge that companies are now seeking new avenues to exploit it, and some are even contemplating to restructure their departments in order to scale this skill. To many of the 200 executives that PricewaterhouseCoopers polled, this appears to be a risk.
But on the other hand, companies are now developing talents of smart individuals to tap into their skills with an aim to retain them as decision makers in respective sectors. This is the view of Anne Eriksson of PricewaterhouseCoopers.