70% of Ghanaian CEOs Confident in Economic Growth for 2025 – Survey
A significant majority of Chief Executive Officers (CEOs) in Ghana are optimistic about the country’s economic prospects for 2025, the 28th Annual Global CEO Survey by auditing and accounting firm PwC has revealed.
According to the survey, 70 percent of Ghanaian CEOs expressed confidence in Ghana’s economic growth in the coming year, with 48 percent equally optimistic about their individual company’s revenue growth for the same period.
While 77 percent of CEOs surveyed believe the broader economy will expand in 2025, a comparatively lower proportion—48 percent—are as upbeat about their companies’ revenue performance. This suggests a cautious outlook on business growth despite broader economic optimism.
“More instructive is the finding that Ghana’s CEOs are less pessimistic about their businesses’ short-term prospects than when we posed that question to them just 12 months earlier—65% of Ghana’s CEOs, at that time, were very confident or extremely confident about their company’s 2024 revenue prospects,” the report noted.
The global survey gathered insights from 4,701 CEOs across 109 countries and territories, including Ghana, between October 1 and November 8, 2024. PwC indicated that while global and regional figures were weighted based on each country’s nominal GDP, the data for Ghana reflects unweighted responses from the local sample.
In a foreword to the report, Country Senior Partner at PwC Ghana, Vish Ashiagbor, described the findings as a “clear line of sight into the minds of CEOs,” offering valuable insights into the factors that both worry and inspire business leaders.
“With more CEOs in Ghana participating in the survey compared to last year, we trust that the sentiments expressed in the results are representative of the points of view of the CEO community in general,” Mr. Ashiagbor stated.
He identified key issues currently preoccupying Ghanaian CEOs, including economic volatility, geopolitical tensions, the rise of Artificial Intelligence (AI) and Generative AI (GenAI), and the growing impact of climate change.
Mr. Ashiagbor observed that CEOs in Ghana are grappling with both immediate shocks and long-term shifts—trends that, while subtle, are likely to have profound implications for businesses and consumers alike.
“What the findings from the survey confirm is that shocks do not only throw up challenges—they produce opportunities too. And CEOs see these opportunities. However, not all businesses are agile enough to pivot and take advantage of the opportunities that arise in the wake of these shocks,” he noted.
He further cautioned business leaders against complacency, despite recent improvements in economic indicators such as currency stability and easing inflation.
“For instance, in the case of the Ghana results, CEOs’ optimism about economic prospects increased compared to the last survey—we noted that the currency stabilised a little and inflation dropped. Our suspicion is that this optimism might have led more CEOs in Ghana to believe their businesses would survive the next decade without the need to reinvent their business models. If true, this could be fatal for most CEOs,” Mr. Ashiagbor warned.
The PwC CEO Survey remains one of the most widely regarded global barometers of executive sentiment, providing a window into the priorities and perspectives of business leaders around the world.
