African private businesses are optimistic about their prospects for growth over the next year and are investing in digital systems to support that growth, advisory and professional services multinational PwC Africa says. The inaugural ‘Africa Private Business Survey’ surveyed 200 unlisted, privately owned retail, manufacturing and industrial companies with a yearly turnover of more than R150-million between February and April. It shows that 81% of businesses rated their profitability over the past three years as having been good or fairly good – directly comparable to private businesses surveyed in Europe (84%) and Middle East (63.6%).
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