PwC Global Survey: 90% of CEOs Optimistic about Algeria’s Economic Growth
The first Algeria edition of the “Global CEO Survey” issued by the London-based consulting firm PricewaterhouseCoopers (PwC Global Survey) confirmed the “renewed confidence and optimism” of Algerian CEOs, especially concerning the country’s economic growth.
Thus, 90% of business leaders surveyed expressed optimism about the growth prospects of the Algerian economy over the next 12 months, according to this study presented Tuesday, May 14, 2024, in Algiers.
The presentation ceremony was held in the presence of the Minister of Energy and Mines, Mohamed Arkab, the Minister of Industry and Pharmaceutical Production, Ali Aoun, the Minister of Finance, Laaziz Fayed, the Chairman of the Council of the Algerian Economic Renewal (CREA), Kamel Moula, the Chair of the National Union of Public Entrepreneurs (UNEP), Charaf Eddine Amara and several CEOs of public and private companies.
The PwC, a partner of the World Economic Forum in Davos, also shows that 87% of Algerian business leaders say they are confident in the ability of their companies to achieve growth over the next three years.
Asked about the risks to which businesses will be exposed, 68% of business leaders identified inflation as a major risk. In comparison, 51% of CEOs consider themselves exposed to cyber-attack risks.
To face these challenges in particular, 55% of CEOs plan a major transformation of their business model in the next ten years, as part of the modernization of their companies.
According to the study, three main actions have impacted the transformation of the business models of Algerian companies over the last five years: the development of new products/services, the adoption of new technologies and the new strategic partnerships.
Furthermore, the study noted companies’ involvement in the fight against climate change by notably reinventing their operational processes. Thus, 56% of business leaders say they have initiated actions to improve their energy efficiency at the company level and 47% plan to innovate in new environmentally friendly products.
As for adopting the new technologies, 49% believe that generative AI will “significantly” change the way their companies create, deliver and capture value.
It should be noted that four panels were organized during this meeting with the participation of the ministers present, around the themes “Mining and steelmaking”, “Renewable energies”, “Digital and artificial intelligence” and “Investment and export”.
The PwC Global Survey conducted a poll among CEOs around the world asking them about their opinions regarding various themes such as growth, trust, transformation, the challenges faced by companies, as well as the future challenges.
During this 27th edition of the study, PwC interviewed 4,700 CEOs from October 4 to November 11, 2023, in 105 countries, including Algeria.
