THE CITIZEN, TANZANIA
Business executives in East Africa are optimistic about the regional economy despite insecurity in Kenya and weakening currencies, a survey indicates.
A global entrepreneur indicator survey conducted by Entrepreneur Organisation (EO), a network of more than 10,000 business owners, shows that 78 percent of entrepreneurs are willing to start a business under the current economic environment. The survey was released in April 2015.
The EO’s founding president, Sriram Bharatam, attributed the results to the confidence and optimism that East African entrepreneurs and companies have developed over the years.
“In terms of business momentum, the indicators show that East Africa will continue its rise as a leading force in the global economy,” he said.
The survey covered 5,868 leading entrepreneurs in agriculture, construction, energy, hospitality, insurance, logistics, media, manufacturing, port handling, real estate, technology, telecoms and utility sectors.
The respondents, from 46 countries, all lead businesses with at least $1 million in annual revenues. The survey indicated that 90 percent of the entrepreneurs remain positive, hoping to see an increase in revenue, compared with 81 percent globally.