In a context marked by economic shifts and multiple crises, including climate change and geopolitical tensions, PwC Mauritius presents the findings of the PwC Mauritius CEO Survey, derived from the 28th edition of the Global CEO Survey.
This survey explores how business leaders are navigating transformations within their organisations. The results showcased in this report highlight the resilience of Mauritian businesses and a growing awareness of the perceived constraints impacting their operations. Mauritian CEOs are optimistic about both local and global economic growth, with opportunities for continued progress ahead.
• Economic Sentiment: Mauritian CEOs are optimistic about both local and global growth, although concerns like labour shortages, inflation and cyber risks remain. Read more on Economic Sentiment.
• Business Model Reinvention: 63% of Mauritian CEOs are confident in their companies' long-term viability and are aggressively pursuing reinvention strategies, including expansion into new sectors. Read more on Business Model Reinvention.
• AI: Although Mauritian CEOs see AI as a key profitability driver, 39% of Mauritian CEOs indicated that they have moderate trust in AI while only 37% indicated that they trust it fully. Read more on AI.
• Climate Action: Environmental challenges are prompting CEOs to focus on resilience and sustainability, though regulatory barriers remain. Read more on Climate Action.
Anthony Leung Shing, Deputy Regional Senior Partner for PwC Africa East Market Area and Country Senior Partner for PwC Mauritius, stated: "Overall, there is a notable sense of optimism among CEOs in Mauritius, with confidence levels significantly higher than those observed in East Africa and globally, where a more cautious outlook prevails regarding the evolution of the local and global economies. This positive outlook is largely attributed to the extensive reinvention efforts underway in local companies, particularly their expansion into new sectors and industries."
Economic Sentiment
Mauritian CEOs are optimistic about both their local and global economic growth. A significant 76% are confident in their territory’s economic growth, aligning with the 72% confidence level in East Africa. However, only 39% are extremely confident in their company’s revenue growth over the short-term (next 12 months), though this rises to 53% for the medium term (3-year outlook). Key concerns include a lack of skilled workers, inflation, and cyber risks.
Business Model Reinvention
A majority (63%) of Mauritian CEOs believe their companies will remain viable for more than a decade. However, these local CEOs are still pursuing aggressive action to reinvent their business models to compete in sectors or industries in which it hadn’t previously competed. While a large portion of companies in East Africa (50%) and globally (60%) have remained within their traditional sectors, Mauritius stands out for embracing diversification and innovation.
AI
Mauritian CEOs share a positive outlook on AI, believing it will enhance profitability within the next 12 months. Trust in AI is however moderate, with 39% expressing cautious trust and only 37% fully trusting it. This cautious approach is in congruence with global sentiments where the far-reaching of AI are being recognised, but upskilling efforts still remains a challenge. Mauritius, in particular, is facing lower availability of workers with key skills.