Tag: PwC Africa

The Africa’s entertainment and media industry is expected to outpace global growth in the next five years, driven by internet advertising and streaming services.

Africa is making slow, steady progress towards energy security, which will only be enhanced through collaboration. Energy access is undeniably one of the most crucial components of modern day living. Reliable energy supply ensures that economies are growing by supporting critical industries like mining, manufacturing, agriculture, healthcare and education, while improving the lives of billions of people.

Following a challenging 2023, South Africa’s manufacturing sector must prioritise digital transformation, cost reduction and reskilling to drive growth. South Africa boasts a well-developed manufacturing sector. In 2023, the sector in its entirety provided more than 1.6 million jobs and accounted for 13.0% of South Africa’s gross domestic product (GDP).

Twenty-one African countries have already enacted rules for non-resident suppliers to account for Value-Added Tax (VAT) / Goods and Sales Tax on electronically supplied services. The digital economy is more than just technology and the internet.

Fifty-two percent of CEOs across Sub-Saharan Africa expect economic growth locally and in their Africa territory (compared to 44% globally) in the next 12 months. At the same time, 50% of these CEOs are feeling more exposed to inflation and macroeconomic volatility (40%).

As the new year unfolds, many business leaders across Africa are assessing the 2023 year to chart an increasing resilient path ahead. Last year, major key events unfolded that had global repercussions on supply chains, businesses and the leaders of those businesses.

The 28th Conference of the Parties (COP28) of the United Nations Framework Convention on Climate Change draws to a close this week. For Africa, discussions at this year’s conference placed the continent as a central player that is playing an active role in actioning efforts and initiatives for a better, more sustainable future.

Since emerging from the grips of the COVID-19 pandemic, various industries across Africa have rebounded relatively well after having to undergo a process of reinvention. Across the continent, key multibillion dollar industries are navigating new challenges to meet consumer needs and retain a strong customer base. For Africa’s entertainment and media (E&M) industry, 2022 was a challenging year.

The pressure to optimise costs and maximise productivity is at the forefront of all business leaders’ minds. Today, this pressure is exacerbated by disruptive technology, the increasing complexity of geopolitics and global trade, evolving risk and regulation, and the ongoing race to find and keep the right talent with the right skills.

Approximately half of Africa’s family-owned businesses believe their customers do not trust them. This key finding from our Africa Family Business Survey 2023 should be viewed as a notable concern for the continent’s family businesses, many of which have spent decades crafting their legacy.