Business leaders in Africa anticipate growth in 2024, investing in technology to enhance efficiency and bolster resilience against economic, geopolitical, and climate instability, as revealed in the latest study "Trade in Transition," commissioned by DP World and led by Economist Impact. While the study forecasts a thriving African business landscape in 2024, with senior executives anticipating an increase in intra-African trade fueled by new trade agreements and technological investments, African companies remain cautious as inflationary pressures, economic uncertainty, and political instability threaten growth.
A profound optimism regarding the potential of technology to address challenges
Over 26% of surveyed executives identified increased inflation and economic uncertainty as the main constraints to import expansion, representing a 7% increase from the previous year. Additionally, nearly 20% pointed to political instability in crucial source markets as their primary constraint, marking a 4% increase from the previous year. Moreover, nearly 20% identified political instability in crucial source markets as their main constraint, up by 4% from the previous year.
The report also reflects deep optimism about the potential of technology to address systemic and economic challenges, demonstrating adaptability and confidence in its role in enhancing the efficiency and resilience of supply chains.
Read the study
