CEOS EMBRACE DIGITAL TRANSFORMATION

MBABANE – It has been discovered that most company CEO’s will be increasing their spending towards digital transformation in the next years.

This is according to the Eswatini CEO Outlook 2022 initiated by Talanta.co, a business consultants and experts specialist firm which was represented by Chartered Accountant - Managing Partner, Dumi Jere. The survey involved 136 CEO’s in the Kingdom from January up until February 2022. It was conducted among the country’s most influential leaders to offer their three year perspective on the economic and business landscape, including the impact of the ongoing COVID-19 pandemic on their organisation’s future. “Creating this experience requires radical digital transformation exercise across the board. As a result, 100 per cent of the leaders indicated their intention and plan to increase their spending over the next three years in digital transformation,” said Jere.

He further highlighted that 94 per cent of the leaders planned on increasing their spending either significantly or moderately on cyber security and data privacy. This is because four out of five leaders were concerned about cyber threats. Also present during the launch was Minister of Commerce, Industry and Trade Manqoba Khumalo, as he said it was in the interest of business to reduce the level of inequality as this raised the cost of doing business while limiting growth opportunities. “The positive sentiment expressed by the CEOs in this survey is encouraging. As mentioned, we have a lot of work to make our country more inclusive. It is in the interest of business to reduce the level of inequality. Inequality raises the cost of doing business, skews market structure, and ultimately limits growth opportunities. It also breeds mistrust and tension,” he said.

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