SA CFOs feel the weight of uncertainty
Deloitte CFO Survey | 2023 H1
CFOs are instrumental in establishing and driving business strategy. They provide financial leadership, aligning business and finance strategy to grow the business. This is especially true in uncertain times.
The pilot of our bi-annual CFO Survey provides insight into the views and sentiments of South African CFOs on business priorities, risks and opportunities.
CFOs see cost optimisation, improved cash flow management and digitalisation as priority strategies and are more likely to make capital investments than hire more staff over the next 12 months.
Loadshedding, poor economic growth outlook, political and policy uncertainty, as well as currency fluctuations are CFO’s most pressing business risks for the year ahead.
92% of CFOs feel that the overall level of external financial and economic uncertainty facing their business is high.
CFOs expect South Africa’s average annual inflation in 2023 and in 2024 to remain outside of the SARB’s inflation targeting band of 3-6%, with possible interest rate cuts from 2024.
Over the next 12 months, CFOs see cost optimisation, improved cash flow management and digitalisation as priority strategies.
Financial planning and analytics, as well as strategic finance are priority finance areas for digital transformation, despite the challenges of executing transformation strategies.
Excessive workload and pressure due to poor company performance are seen as top job stressors for SA CFOs.