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MUMBAI: Continuing its trend of surveying top CEOs across the globe, PricewaterhouseCoopers (PwC) surveyed 1344 business leaders across 68 countries out of which 72 were media and entertainment CEOs in 33 countries to find out what exactly is their business sentiment for the coming years. As we enter the New Year, PwC's economists have once again peered into the crystal ball to make their top five predictions for 2015. Taken together, we expect the BRICs' contribution to global growth to fall for the second year in a row to around 33% in 2015. Looking towards the medium-term, we think that the February 2015 budget could see India take a step towards implementing new structural reforms which will boost the economy. The world's biggest personal computer-maker, Lenovo, said first-quarter earnings rose 64% to $173m, beating market expectations. Cyprus financial regulator CySEC has certainly been flexing its muscles lately; increased fines, license suspensions. Turkish Pesident Recep Tayyip Erdogan said Turkey wants a permanent and fair solution in the long-standing Cyprus issue, Daily Sabah reports. Europe's low-cost airlines once mocked the air miles programs run by flag carriers as expensive relics of a bygone era. In an effort to attract Thai investors, Cyprus is offering a lifetime European Union citizenship for Bt100 million. Atterbury Development Manager Pieter Olivier has just embarked on his second international island adventure with Atterbury. Cyprus and Greece are set to conduct a search & rescue exercise on August 18 out at sea, south of Cyprus. The continent sees five trends merge: demographic change, urbanisation, technological advances, the shift in economic power and resource scarcity. Paul Cleal, partner and PwCs Africa Business Group Leader commented: “We have sought to answer ‘what makes an African city one of opportunity’ by developing a set of questions that investors should ask themselves and themes on which city politicians and officials can work on to improve their competitiveness.
Four of the top five cities in our report are located in North Africa; Cairo, Tunis, Casablanca and Algiers.
Several of the more ‘forward-looking’ variables were combined in the opportunity indicator in order to highlight those cities in which future opportunities may lie (rate of real GDP growth, ease of doing business, attracting FDI, city middle-class growth, and population growth).
Most of the African cities with promise can (and will) climb to join those cities at the top of our overall ranking, with a little effort and organisation. With 5% growth, dynamic demographics and a growing middle class, Africa is exceptionally appealing to investors.


Africa is at an exceptional, historic crossroads, if there was ever a moment for an entire continent to seize the day, this is it. The sensational Carroll Foundation Trust and parallel Carroll Maryland Trust multi-billion dollar offshore tax evasion fraud bribery scandal which is now encircling 10 Downing Street and the Conservative Party has revealed that the new explosive FBI Scotland Yard cross-border criminal standard of prosecution files have named a startling litany of former partners of PWC PricewaterhouseCoopers the international accountancy firm in this case of international importance. Sources have confirmed that the former partners of PWC that have been named in the dossiers include Peter Dickinson Derek Jenkins and Christopher Relleen.
ICAEW Institute of Chartered Accountants leaked sources have disclosed that PWC were the primary auditors to the Carroll Global Corporation industrial empire that embraced more than eighty five corporations world wide. In depth interviews were conducted with Interpublic Group’s Michael Roth, II Sole 24 Ore SpA’s Donatella Treu and SKYCITY’s Nigel Morrison. 93 per cent (compared to 80 per cent in 2013) are somewhat or very confident in their company prospects for revenue growth in the next three years.
US economic growth expected to be the fastest for a decade: US unemployment has fallen during 2014 to below 6%, and we expect this, combined with lower oil prices, to contribute to rising household consumption. Economic growth in China projected to be the slowest since 1990: We still expect China to make the biggest contribution to global growth in 2015. Low inflation leads to Quantitative Easing in the Eurozone: We expect both inflation and growth to remain very low in the Eurozone in 2015.
India expected to resume growing at above 6%: After growing at below 6% since 2012, we think 2015 could be the year that India turns the corner, posting growth of around 7%.
First, oil prices have been falling in recent months due to slowing global demand, the US shale oil boom and steady production from OPEC.
The report is part of PwCs global Cities of Opportunity series and its analysis is structured around the critical issues of the business community as well as those of the office holders and other public authorities who have responsibility for improving the collective life of each city examined here. Urbanisation is of particular importance because by 2030, half of Africa’s population will live in cities which are where economic activity and growth will be focused as well as becoming communication centres and a hub for social trends. From this analysis, two rankings emerged; ‘overall’ and ‘opportunity’, from this unique perspective which emphasised the dynamism, vision and efforts by cities to develop, the report throws up some surprises. The preponderance of North African cities at the top is mainly due to the length of time they have been established. Accra, the capital of Ghana is a good example of a city that has a good reputation throughout Africa and beyond for the quality of its communications infrastructure, low crime rates and steady democracy.
Moreover, many of them have already become key regional platforms such as Dar es Salaam and Douala as ports, Accra for telecommunications, Lagos for Culture and Nairobi for financial services.


After suffering a period of pessimism about the future of Africa with some exaggerated optimism, leaders today share a more realistic view of the economic situation of the continent and it’s what PwC calls ‘Afro-realism’. With the granting of all regulatory approvals for Booz & Company to join PwC, it is now officially part of the PwC Network. This new name, which will be used alongside the PwC name and brand, reflects the strength in strategy consulting that Booz & Company brings to the PwC Network and the benefits this deal will bring to all clients and stakeholders. In our main scenario we are projecting the US economy to grow by more than 3% in 2015, the fastest growth rate since 2005. However, its projected growth rate of 7.2% would be its slowest since 1990 and its high debt levels pose some downside risks to that main scenario.
We therefore expect the ECB to undertake a quantitative easing programme involving the purchase of government bonds, in an attempt to boost demand and head off deflation.
In the short-term, low oil prices are likely to increase GDP growth, ease the pressures of India's high current account deficit and help bring down inflation. For businesses, this is a further sign of the potential of SSA as a region in which to invest. This has given them time to develop infrastructure, regulatory and legal frameworks as well as establishing socio-cultural ecosystems.
Economically, it ranks second for both its attractiveness as a destination for foreign direct investment and also for the diversity of its GDP. 39 per cent of E&M CEOs believe that the global economy will improve in the next 12 months, compared to 20 per cent last year. In line with this, we expect the US to contribute around 3% of global GDP growth in 2015, its largest contribution in a single year since before the financial crisis. The growing middle class, strong demographic growth with an improving age mix, technological innovation that we have already seen in mobile payments and a growing choice of investment partners from the global south as well as fast-paced urbanisation are all shaping what the future of Africa could look like. Johannesburg is the only exception to this pattern, it was formed more recently in 1886 (compared to the other cities it’s ranked highly with) and was developed rapidly for political reasons. Therefore, the infrastructure and services are comparable to the more established African cities.




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