CEOs forecast more jobs from economy turnaround

This is according to a new survey by advisory firm KPMG which assessed optimism by the business executives between July and August this year and across the same time stamp in 2020.

In line with the optimism for growth, 88 per cent of East Africa CEOs see their headcount increasing but with varying percentages over the next three years.

For instance, 46 per cent of the executives see their employee pool expanding by up to five per cent while another 40 per cent see the expansion at between six and 10 per cent.

Meanwhile, only two per cent of the executives expect their workforce base to increase by between 11 and 25 per cent.

The balance represented by 12 per cent of CEOs expect staff numbers to remain unchanged.

82 per cent or eight out of every 10 CEOs growth to be driven by merger and acquisition activity while 36 per cent envision organic growth.

Even so, the CEOs still see threats to growth with disruptive technology topping the peril list at 32 per cent.

Other risks to anticipated growth by order of intensity include supply chain risks, cyber security, tax risks, climate and regulatory risks.

“On supply chain which has mainly been disrupted by a slow-down in the global movement of goods, East Africa CEOs are considering diversification of sources of inputs to make their supply chain more resilient,” notes the survey.

Governments across the region have been moving to unshackle economies by lessening the degree of COVID-19 containment measures.

For instance, Kenya ended its 10pm to 4am curfew on Wednesday signalling a return to 24 hours of enterprise.

Among the main stakeholders to applaud the move have been long distance public-service vehicles (PSVs) whose night time operations had been heavy curtailed.