Top Chief Executive Officers (CEOs) working in Tanzania have ranked of changes in regulation as the highest potential disruptor to profitability of their industries with 72% rating this as impacting profitability to a large or very large extent over the next 10 years , a recent survey by consultancy firm PricewaterhouseCoopers (PwC) shows.
By contrast, whilst this is also a top risk for Global CEOs, it is a much smaller percentage (53%) that cite it as such.
“As such the regulatory risk is seen as comparatively much higher by TZ CEOs than their global peers,” the PwC report says.
Other significant disruptors listed by Tanzania’s CEOs include changing customer demands/ preferences (61%): a result of many factors like urbanisation, the growth of the middle class and ICT adoption.
“In addition, the pandemic has accelerated digital adoption and transformation both for consumers and companies in Africa which has a direct impact on demand and supply,” according to the report.
The top CEOs also cited technology as another disruptor ranking it at 59% as a result of the accelerated adoption of technology.
“Indeed, 37% of TZ CEOs believe that their companies will not be economically viable more than 10 years from now,” the report added.
Types of investments CEOs will be making in the next 12 months
TZ CEOs highlighted the upskilling of the company’s workforce (72%) as a top priority investment area for them in the next 12 months.
Additionally, the other investment they will be making in the same timeframe will be towards automating processes and systems (65%) and deploying technology (62%).
Across all the highlighted investment areas or types of investments the CEOs will be making, the majority of them indicated that they will be allocating the bulk of the investments to reinventing their businesses for the future.
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