Peter Ngahu: PwC boss on what troubles CEOs as they look to EAC for growth

Correspondent

Nation Media Group

Findings of the PwC Kenya 2024 CEO Survey have suggested that 86 percent of Kenyan business leaders are looking at investments in regional markets as the main driver of revenue growth. The CEOs are also looking at adopting generative artificial intelligence technologies to enhance operational efficiency. Peter Ngahu, regional senior partner for PricewaterhouseCoopers (PwC), spoke with the Business Daily on insights the CEOs shared.

Why are Kenyan CEOs looking at EAC and other neighbouring countries for investment opportunities to grow revenue?

The survey gives us indicators, but we talk to the CEOs on an ongoing basis as we interact and serve them. There is no question beyond the survey that the region is where they are looking for growth. Whether that is banking, insurance, or manufacturing; you can see Kenyan companies expanding into the region. The CEOs are very clear that Kenya is the gateway to a wider market and that market is not just the East African Community as we know it. With the recent addition of DRC, it has become a very attractive market, especially for the financial services sector. The CEOs have placed a high premium on the region as a source of growth for the future. And it is very difficult to see any Kenyan company that is significant in scale that is not already out in terms of footprint from the Kenyan market.