African chief executives remain optimistic about growth prospects even as economic uncertainty and technological disruption intensify. 79% are confident in their organisations’ growth outlook, according to the latest survey of business leaders across the continent.
The findings come from the 2026 KPMG Africa CEO Outlook, the third edition of the report, which surveyed 176 African CEOs as part of a global study of 1,400 executives.
Confidence in domestic economies stands at 72% and in the global economy at 66%, close to the worldwide benchmark of 65%.
86% reported revenue growth in their most recent financial year. Yet only 58% expect annual earnings growth of at least 2.5% over the next three years, lagging the global figure of 68%.
The gap underscores pressure to convert top-line momentum into durable profits through productivity and cost discipline.
Cybersecurity and data security rank as the leading threat to growth, cited by 31% of African CEOs, the same share as their global peers. Supply-chain resilience is also named by 31%, while 27% highlight challenges integrating artificial intelligence into operating models.
Leaders are responding with higher investment: 45% are increasing spending on cybersecurity and digital-risk resilience, and 31% on AI integration.
Organic growth is the top operational priority for 18% of African CEOs, well above the global 8%, followed by customer experience and digitisation.
The starkest divide appears in artificial intelligence. 72% identify AI as a top investment priority, near the global 79%. Only 14%, however, believe their organisations are keeping pace with or ahead of AI developments, compared with 66% worldwide.
48% expect AI returns within one to three years, versus 71% globally, while 42% anticipate returns only after three years, against just 12% of global peers.
Data readiness, skills gaps and governance remain major constraints, particularly in West Africa where 73% cite data issues.
Talent remains central. 84% of African CEOs expect headcount to rise over the next three years. Skills shortages and AI upskilling are widely viewed as critical barriers to translating technology spending into productivity gains.
The outlook arrives as multilateral institutions upgrade regional growth forecasts. The World Bank this month raised Sub-Saharan Africa’s 2026 growth projection to 4.3%, citing resilience amid higher energy prices linked to the Iran conflict, while urging AI investment to lift productivity and create jobs.
The IMF similarly projects around 4.5% growth but notes weak per capita gains and rising inflation pressures.
Meanwhile, regional confidence varies: Southern African CEOs show the strongest domestic optimism at 90%, while East African leaders report the highest company confidence at 84%.
“African CEOs are navigating a changing environment with confidence and a clear focus on growth,” said Tola Adeyemi, Senior Partner and CEO of KPMG One Africa. “What stands out is their willingness to invest in technology, strengthen their organisations and build the capabilities needed for the future.” He said.
