GICAM's Top 5 obstacles to business growth

GICAM Chairman Guy TAWAMBA

The Report on the "Global Business Survey 2022", carried out by GICAM among economic players, shows that :

•      Inflation was the first obstacle to growth for 72% of business leaders surveyed: with a rate of 6.3% in 2022, a level not seen in 25 years; projections are for 7.5% in 2023.
•      Electricity is the second most "severe" factor holding back growth for 34% of business leaders.
•      Tax rates slowed down business development for 61% of economic players.
•     Poor Internet connection and access to financing (foreign currency) ranked fourth and fifth as factors that prevented companies from achieving their objectives.
•     According to the aforementioned report, these constraints seem to have had more of an impact among SMEs during the period under review: 

                ◦ 75% (¾) by inflation.
                ◦ 62% by access to financing ;
                ◦ 60% by electric power.