Expansion into new market and strong leadership key drivers to respect
Nairobi, 13 November 2008 – Expansion into new markets, high quality products and services as well as strong leadership are likely to be the key drivers of respect as revealed in the preliminary findings of the ninth edition of the ongoing PricewaterhouseCoopers’ (PwC) CEO’s Most Respected Company in East Africa survey.
The theme of this year’s survey is Growth in a Changing Market. The survey seeks to explore how CEOs in this region are dealing with risks and opportunities in the current period of global economic uncertainty, while simultaneously building their companies so that they endure and succeed over the longer term. CEO’s and business leaders determine the values and attributes that are important to them when defining respect and also nominate the company they most respect in their country of operation as well as in the region.
Charles Muchene, Survey Director and Country Leader, PricewaterhouseCoopers Kenya said, “Over the years we have built up a unique picture of what drives respect in the minds of our business leaders. The CEO’s most respected company in East Africa (CMRC) Survey has also become recognised by CEOs as an opportunity to understand what their peers are thinking and doing, as well as to share vital elements for success in the rapidly changing business environment.”
The Most Respected Company survey and awards has always been about working with East African CEOs to recognise and elevate those businesses that are operating at a distinctive level. While this underlying aim remains undiminished, we continue to innovate and adapt the programme to cement its position as the leading business awards in the region.
Key areas covered in the survey include the business confidence level, perception of government’s role in the business environment, challenges CEOs face in ensuring the long-term success and durability of their business. The survey also seeks to understand the businesses strategies on energy sources, human capital management as well as stakeholder level of influence on the success of businesses.
Charles Muchene, added “The program has over the years held a mirror up to the development of our economies with winners often from currently successful and dominant market players, reflecting the growth and opportunity in the industry.”
The manufacturing and fast moving consumer goods (FMCG) companies dominated the late 90’s and early 2000. In the middle of the decade, a transport player, Kenya Airways and last year an ICT player – Safaricom. Last year’s predictions from most of the interviewees were that the next wave of emerging and respected business was likely to draw from the ICT sector.
This year, Rwanda has been included in the survey of CEOs for the first time to reflect the expansion of the region and there will be an award given for the CEO’s Most Respected Company – Rwanda. In addition, the survey provides an opportunity for CEOs to get a more insights on the business climate in Rwanda. With the introduction of the Rwandan award and the continued diversification of leading businesses in East Africa, the industry-specific survey questions and awards were removed from this year’s programme.
The findings for this year’s survey will be announced on 28 November 2008 in Kampala, where the top CEOs in the region will be invited to share, collaborate and celebrate with those they have nominated as being the most respected. This year the awards ceremony will include a round table discussion around the key issues facing the business leaders around the region and findings of the survey and will be aired on CNBC across Africa.
The survey is run independently by a research house, Steadman Synovate and the Nation Media Group is the media partner.
