The 2025 KPMG African CEOs (chief executive officers) Outlook survey results released yesterday indicate that unlike past years when it was believed that Artificial Intelligence (AI) would create job cuts, several CEOs now view it as a tool that is sharpening employee efficiency.
The report compiled by audit firm KPMG titled: ‘KPMG Africa CEO Outlook: A new wave of business confidence quietly taking shape across Africa,’ which was released yesterday, indicates that 71 percent of the 130 African CEOs who were interviewed last year are investing in generative AI, talent, ESG, and cybersecurity as the top four forces shaping their strategic priorities.
Mr Stephen Ineget, the country manager of KPMG Uganda, explained that 71 percent of the CEOs interviewed, believe AI is driving growth and resilience in their companies, while 88 percent of them expect to increase employee head count, with AI complementing human capabilities. He added that 79 percent of the CEOS reported that they are navigating their national regulatory environments smoothly and also focusing on expanding their businesses across borders through regional integration and intra Africa trade. ‘AI is making people more efficient, as you continue investing in AI, it frees people from routine jobs to do more meaningful work. For instance, instead of recruiting graduates to do data analytics, you recruit them to analyse strategy because AI has already done the trends,’ he said.
Now in its 11th year, the survey forms part of KPMG’s global CEO Outlook, which includes insights from 1,350 CEOs across 11 markets. According to this year’s report, regional integration and cross-border collaboration are emerging as growth accelerators, with African CEOs increasingly prioritising intra-African trade and market expansion aligned to AfCFTA opportunities. Despite global economic uncertainty and geopolitical tensions, African CEOs are optimistic about their own organisations’ growth prospects. This is according to the KPMG 2025 Africa CEO Outlook Survey, which captures the perspectives of 130 CEOs across Southern, East, and West Africa.
Mr Asad Lukwago, a partner at KPMG, who presented the report, said CEOs across all sectors interviewed presented positive sentiments about generative AI, talent retention, and positive prospects of their company expansion. He added that most CEOs from countries that bounced back from the effects of the Covid-19 pandemic anticipated economic growth in their countries. Asked what excites the CEOs about generative AI, Mr Lukwago explained that unlike developed countries where infrastructure has been developed to facilitate the use of AI, in developing countries, lack of infrastructure, electricity, and use of obsolete computers are some of the basic reasons why AI cannot be fully deployed in the current circumstances.
Ms Judy Rugasira, a panellist at the webinar, said in the property industry, the human being is still the face of their industry because they delayed deploying AI in their operations. Ms Sarah Arapta, the managing director of Citibank, observed that CEOs remain optimistic about the African market because of its underpenetrated and underbanked middle class. She added that banks have also been instructed to promote financial inclusion and leverage the emerging financial systems, and African CEOs have learnt in uncertain conditions, which have made them resilient.