Paul Calvey | Managing Partner | Oliver Wyman South Africa | mail me |
We have announced the release of our latest report, ‘CEO Agenda 2025’. This comprehensive study offers critical insights into the complex challenges facing global CEOs. It also presents strategic priorities for leaders as a roadmap for navigating a rapidly evolving world.
The strategic priorities for leaders unveiled throughout the report point to the need for agility and foresight. The report underscores the urgent need for adaptive leadership and proactive strategies. These strategies must respond to emerging trends across talent, technology and geopolitics.
The report draws on a survey of 165 CEOs from publicly listed companies. The findings are further supported by our Forum’s 2025 quarterly surveys of employees and consumers across 17 countries. Additional insights come from extensive secondary research and executive interviews. These global findings are particularly relevant for South African business leaders. They are navigating an equally dynamic and challenging local market.
From load shedding and logistics bottlenecks to regulatory complexity and shifting global alliances, South African CEOs are no strangers to uncertainty. This report serves as a vital compass. It surfaces global trends, from talent strategy to AI adoption, that are already playing out with unique urgency and intensity in boardrooms across the country. It offers actionable insights to not just survive but thrive amidst persistent volatility. The strategic priorities for leaders unveiled in this context offer a blueprint for resilience.
An overview of global disruption and local pressure
The report reveals a significant rise in geopolitical concerns among global business leaders. An overwhelming 89% of CEOs now consider geopolitics, trade policies, tariffs and industrial regulations as key risks to their organisations. This marks a 20% increase from 2024. The shift highlights the growing importance of understanding global power dynamics, supply chain vulnerabilities and regulatory divergence.
For South African businesses with international exposure, particularly in mining, manufacturing and agriculture, these pressures are familiar yet intensifying. The implications of shifting global trade agreements, evolving dynamics within BRICS alliances, and persistent currency volatility cannot be ignored.
South African leaders must remain acutely aware of both local and international power dynamics. They must also proactively shape strategies to mitigate risks and unlock new markets.
To address these risks, CEOs are developing agile, diversified supply chains. They are also deepening their understanding of policy shifts that affect sourcing, production and market access. Countries investing heavily in infrastructure and competitive labour forces, such as India, Vietnam, Thailand, Indonesia and Malaysia, are emerging as major beneficiaries of global supply chain realignment. This reflects a broad reconfiguration of manufacturing and sourcing strategies.
For South African CEOs, this demands a critical review of current supply chain dependencies. It also requires strategic exploration of new partnerships. Leveraging the African Continental Free Trade Area (AfCFTA) as a growth corridor is essential. Regional integration must become a cornerstone of resilience.
AI as a business imperative
Artificial Intelligence (AI) and advanced analytics are redefining industries. Currently, 95% of CEOs identify AI as a major opportunity for their businesses. This reflects an accelerating shift in South Africa, where AI adoption is quickly outpacing the average rate across the African continent.
This optimism is supported by tangible outcomes. 60% of CEOs report financial benefits from AI initiatives. These include at least a 1% improvement in cost savings or revenue. Moreover, 17% of respondents reported more than a 10% impact. This underscores AI’s transformative potential.
The report also exposes a disparity in AI impact between large enterprises and smaller firms. Larger businesses are seeing greater returns. About 24% report significant benefits, compared to just 13% of small and medium-sized businesses. This suggests that scale plays a major role in successful AI adoption.
For South African SMEs, this is both a challenge and an opportunity. Larger corporations can leverage resources for robust AI investments. In contrast, smaller businesses must strategically identify targeted AI applications that deliver immediate value. This can be achieved through collaborative initiatives or by using accessible cloud-based solutions. These approaches are essential to avoid falling behind in the AI revolution.
Building the future workforce
In an AI-driven world, talent is emerging as a central competitive advantage. A full 75% of CEOs now view talent attraction, development and retention as a major business opportunity. This marks a 25% point increase from 2024. It is the fastest-growing area of CEO focus. This shift shows increasing recognition that continuous learning and workforce agility are vital.
New operating models are now essential for thriving in a rapidly changing business environment. In South Africa, this insight carries particular urgency. The country’s growing young population and persistent youth unemployment demand focused action.
For South African CEOs, this goes beyond retaining top talent. It requires active investment in upskilling and reskilling programmes. These programmes must address both current skill gaps and future workforce demands. With the right approach, South Africa can turn the youth unemployment crisis into a demographic dividend. In line with this, 87% of CEOs plan to enhance or transform employee skills within the next two years. This signals a strong commitment to workforce readiness.
Driving growth through discipline and innovation
Despite uncertainty, growth remains a top priority for CEOs. The survey shows that 68% selected a growth initiative as their main focus for 2025. This is up from 56% the previous year. Strategic priorities unveiled in this area reinforce the link between ambition and planning. This growth agenda is supported by disciplined cost management. It is now a top-three priority for 70% of CEOs, up sharply from 39% in 2024.
Planning horizons are also shortening. CEOs now dedicate 43% of their time to strategies with timelines of less than one year. To fuel growth, 95% of CEOs plan to pursue mergers and acquisitions (M&A) over the next one to two years. M&A has become a key tool for accelerating strategic expansion.
For South African leaders, this reflects a difficult balancing act. They must manage short-term stability while also pursuing long-term transformation. This requires a delicate balance: aggressively managing costs and adapting to market shifts, while also identifying strategic growth opportunities. M&A will be one of those opportunities that support sustainable prosperity beyond current challenges.
A holistic approach to leadership
Amid these multifaceted challenges, the report emphasises the need for adaptive leadership. This leadership must embody resilience, foresight and strategic agility. One of the report’s central insights is that business risks today are deeply interconnected. Geopolitical tensions, technological disruption and workforce transformation cannot be tackled in isolation.
For South African CEOs, many already managing complex and high-stakes environments, this is a timely reminder. Siloed thinking is no longer viable. Successful leaders will be those who integrate diverse challenges into a unified strategy. This requires cross-functional collaboration and a holistic approach to both risk management and opportunity creation.
The ‘CEO Agenda 2025’ report makes one thing clear: incremental change is no longer enough. The world is being reshaped by geopolitical upheaval, rapid technological advancement, and a shifting labour landscape.
In conclusion
For South African and indeed African CEOs, this insight is particularly relevant. The region’s unique blend of infrastructure limitations and persistent social inequalities calls for more than resilience.
The report calls for visionary leadership. Leaders must harness the demographic dividend, strategically adopt AI, and proactively build the workforce of tomorrow.
The strategic priorities for leaders unveiled in the report provide the tools to integrate these complex forces into a cohesive strategy. This will be the key differentiator for sustained success and meaningful growth across the continent.
