African chief executives are more confident about the economy than a year ago, but few believe their organisations are keeping up with artificial intelligence (AI), according to the 2026 KPMG Africa CEO Outlook. The third edition drew on 176 African CEOs among 1,400 business leaders surveyed worldwide between 11 August and 21 September 2026.
Confidence in the global economy rose to 66% of African respondents, from 53% in the 2025 edition, edging past the global figure of 65%. Confidence in domestic economies climbed to 72% from 63%, and 79% are confident about their own organisations’ prospects. This year’s sample is larger than the 130 CEOs polled last year and, unlike 2025, includes North Africa.
The optimism rests on recent results. Some 86% of African CEOs reported revenue growth in their latest financial year, yet only 58% expect annual earnings growth of at least 2.5% over the next three years, against 68% globally. KPMG says this points to a period in which productivity, cost control and selective investment will matter more than top-line expansion.
| Measure | Africa | Global |
|---|---|---|
| Confident in the global economy | 66% | 65% |
| Expect earnings growth of at least 2.5% a year | 58% | 68% |
| AI a top investment priority | 72% | 79% |
| Keeping pace with or ahead of AI | 14% | 66% |
| Expect AI returns within one to three years | 48% | 71% |
| Expect AI returns after three years | 42% | 12% |
| Expect headcount to rise over three years | 84% | 89% |
| Embedding sustainability in core strategy | 48% | 63% |
The widest gap is in AI. While 72% of African CEOs rank it as a top investment priority, only 14% say their organisations are keeping pace with or ahead of developments, compared with 66% globally. Some 42% expect returns only after three years, against 12% of global peers. KPMG One Africa chief executive Tola Adeyemi said the next phase of growth will depend on deliberate investment choices and execution rather than ambition alone.
The findings echo the International Monetary Fund, which estimated in July that AI could lift sub-Saharan Africa’s economy by about 4% over a decade, but ranked the region last on its AI preparedness index because of gaps in electricity, internet access and digital skills.
Cybersecurity and supply-chain resilience are the most cited threats to growth, each named by 31% of African CEOs, with AI integration third at 27%. Some 45% are raising spending on cyber and digital-risk resilience, and 36% on regulatory compliance. Check Point Software reported that African organisations faced an average of 3,286 attacks each per week in the first quarter of 2025, the highest of any region. The survey’s release coincided with a global rush to patch critical flaws in the PHP programming language, which led several governments, including South Africa’s, to take websites offline.
On jobs, 84% expect headcount to grow over three years, while 56% foresee cuts in some areas. Skills remain the main constraint, with 59% citing workforce gaps and 58% the need for AI training. Some 82% are redesigning roles for work alongside AI.
On sustainability, 48% are embedding it more deeply into core strategy, compared with 63% globally, though 65% now say they can meet new reporting requirements, up from 55%. Southern Africa leads on strategic integration at 59%.
The survey comes after the IMF raised its 2026 growth forecast for sub-Saharan Africa to 4.5% in October, while keeping South Africa’s near 1%, and flagged inflation, aid cuts and debt costs as risks.