The Africa Survey 2020 has ranked Kenya among the top five most ideal African countries to invest in.
The survey, which gathered data from more than 150 African Chief Executives, identified Ghana, Cote d’Ivoire, Kenya, Rwanda and Senegal as the best African countries to invest in.
The survey was sponsored by the Africa CEO Forum and Deloitte.
Though 95 per cent of African companies’ revenues were impacted negatively by the pandemic, the CEOs were hopeful of an economic recovery.
“Above all, they are increasingly confident about the continent’s long-term economic growth, while also acknowledging that the slowdown in global economic growth will harm their domestic operations,” the authors of the report noted.
Nonetheless, the reported noted that African companies have not adequately accommodated women into their organizations. The survey showed that women make up less than 25 per cent of the board of directors’ members in over 74 per cent of companies.
“The feminization of organizations is a must and a key component of the African private sector’s development. Although it is clear there is a direct correlation between good corporate performance and gender diversity on boards of directors, African companies still have considerable room for improvement in this area,” the authors of the report noted.
95 per cent of business leaders said that digitization has become a key factor in the recovery strategy of most companies. 85 per cent of the business leaders noted that Covid-19 will trigger innovation in the coming years.
93 per cent of the African business leaders plan on improving their local communities through education, employment and health being.