Africa Business Agenda breakfast incorporating CNBC Africa panel

12 May 2014

Hosted by PwC and produced by ABN Productions, the first Africa Business Agenda networking breakfast incorporating a CNBC Africa panel discussion took place at the Harrow Park Golf Club in Abuja, Nigeria, around the 24th World Economic Forum on Africa.

Africa Business Agenda breakfast incorporating CNBC Africa panel

The panel discussion focused on the realities of doing business in Africa and shed light on the prevalent challenges.

Panellists

Colin Coleman, Partner Managing Director, Head of South African and Investment Banking Division, sub-Saharan Africa, Goldman Sachs International
Uche Orji, CEO, Nigerian Sovereign Investment Authority
Sola David-Borha, CEO, Stanbic IBTC Holdings
Devakhumar Edwin, CEO, Dangote Cement
Farouk Gumel, West Africa Advisory Leader, PwC

Uyi Akpata, Regional Senior Partner for PwC, says: "Conversations like these are important because we get deep insights about doing business in Africa from leading CEOs.

Our panellists have experience growing their companies on the continent in sectors like banking, consulting, infrastructure, constructions and public investment. It is very interesting to hear from them about why the Africa CEO Survey shows such strong confidence among Africa's CEOs, even though there are challenges.

"The survey looks at how companies like theirs - and ours - manage risk, cultivate talented workers and invest in future prospects. The World Economic Forum on Africa is a good time to have a discussion like this about all of the intricacies of doing business in Africa so we can share insights and collaborate towards solutions that promote sustainable and inclusive growth."

CEO Survey

PwC's Africa CEO Survey shows that:

91% of CEOs in Africa are confident of growth prospects this year and 93% over the next three years
63% say that growing their customer base is a top-three investment priority, followed by improving operational effectiveness (52%) and enhancing customer service (45%)
87% of Africa CEOs plan to increase their investment in technology this year, but 46% are concerned about the pace of technological change
76% say that bribery and corruption threaten business growth in Africa
86% anticipate some change to their risk management strategy this year

"The networking breakfast went exceptionally well with a notable panel of thought leaders and business leaders from across Africa in attendance," commented Alexander Leibner, Head of ABN Productions. "Our events around the World Economic Forum in Abuja this year showcased ABN Productions capacity to host tailored, high level business gatherings anywhere on the continent."

To see The Africa Business Agenda in full, tune in to CNBC Africa, DStv channel 410, tonight, Monday, 12 May 2014 at 8:30pm CAT with repeat broadcasts on Saturday, 17 May 2014 at 6pm CAT and Sunday, 18 May 2014 at 4pm CAT.

For more, go to www.pwc.com/theagenda.