TLDR: A recent KPMG survey reveals that African CEOs are highly optimistic about their companies’ growth prospects, leading to significant plans for increased hiring and substantial investment in artificial intelligence, particularly generative AI. The survey highlights a strong focus on upskilling the workforce for AI-enabled roles and building digital resilience, despite underlying concerns about national and global economic stability and practical challenges in AI deployment.
African CEOs are demonstrating robust confidence in their organizations’ future, with a new KPMG survey indicating a strong drive towards increased hiring and strategic investment in artificial intelligence. The study, which surveyed over 130 executives across the continent, found that a remarkable 79% of CEOs anticipate growth within their own companies, and 88% are planning to expand their staff within the next year.
Investment in AI is a key priority, with 61% of CEOs intending to boost spending in this area. This focus extends to talent management, as 62% are concentrating on retaining or retraining high-potential employees. The optimistic outlook also fuels acquisition strategies, with 86% of respondents expecting to engage in mergers or acquisitions within the next three years, a notable increase from 77% in the previous survey.
Despite this corporate optimism, the broader economic landscape presents challenges. Only 63% of CEOs expressed confidence in their country’s economic outlook, and a mere 53% felt similarly about the global economy. Primary concerns cited by these leaders include the complexities of integrating AI into existing operations, navigating evolving regulatory pressures, and strengthening cybersecurity defenses.
Gerald Kasimu, Partner and Advisory Head at KPMG East Africa, emphasized the strategic shift: “CEOs are now embedding AI into their operations and talent plans, not simply waiting on conditions to improve.” This sentiment underscores a move away from viewing AI as an experimental technology to a core component of growth strategy. The focus for many African companies is on workforce augmentation rather than contraction, with 67% of CEOs already redeploying staff into AI-enabled roles.
The survey also highlighted practical hurdles, with 96% of CEOs identifying data-readiness as a significant challenge in AI implementation. However, there is a strong belief in human capital development; 81% of CEOs believe that upskilling their workforce in AI will directly contribute to organizational success, a figure higher than the global average of 77%. Furthermore, African CEOs are showing a greater propensity for innovation investment, with 34% investing in technology and solution innovation compared to 26% of their global counterparts.
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Regional variations exist, with East African CEOs showing 76% confidence in company growth. In this region, leaders are particularly prioritizing skills development, digital resilience, and restructuring workforce models to adapt to the evolving impact of generative AI and automation. While talent competition is less of a concern for African CEOs (64% view it negatively compared to 70% globally), infrastructure limitations such as power unreliability, limited broadband, and outdated computing systems remain practical barriers to widespread AI deployment.
