Africa private sector CEOs urged to listen to the ‘voice of the people’ for resilient growth

• Afrobarometer says citizen perceptions of economic conditions, trust in institutions, and lived realities directly shape consumer behaviour, investment climates, and long-term business performance.

Africa’s private sector leaders and investors have been urged to treat public attitude data as a core strategic asset rather than an optional extra. According to Afrobarometer, the continent’s leading public opinion research network, citizen perceptions of economic conditions, trust in institutions, and lived realities directly shape consumer behaviour, investment climates, and long-term business performance.

While speaking at the CEO Conclave and Investors Forum 2026 in Nairobi, Felix Biga, Chief Operations Officer at Afrobarometer, told delegates: “The environments in which you operate are shaped by the expectations, frustrations, resilience, and aspirations of people. Citizen experiences and perceptions of economic conditions, trust in institutions, access to services, and lived realities all influence market behaviour, investment climates, and ultimately business success.”

The call comes at a vital moment with Africa’s institutional savings now exceeding US$600 billion but largely locked in government securities, and foreign direct investment flows remaining volatile. While this happens, business leaders are finding themselves under increasing pressure to find new sources of resilience and growth.

Afrobarometer’s notes that ignoring what ordinary citizens think and experience is no longer a viable strategy in today’s competitive African markets.

Afrobarometer on why public sentiment matter

Across the continent, consumer behaviour is shifting rapidly. According to the latest Afrobarometer Round 9 data (2024–2025), a majority of citizens in many countries continue to report high levels of economic hardship, with youth unemployment and rising living costs topping the list of concerns. These perceptions directly affect purchasing power, brand loyalty, and willingness to adopt new products and services.

Peter Mutinda, President of the Africa Asia Middle East Chamber of Commerce (AAMECC), which convened the forum, stated: “As Africa emerges as a significant frontier for economic growth, those who lead will be organisations prioritising insights derived from robust data, particularly citizen-centred data.”

The emphasis on citizen data comes as many multinational corporations and local conglomerates expand aggressively into new markets under the African Continental Free Trade Area (AfCFTA).

Companies that fail to understand local grievances risk boycotts, regulatory backlash, or reputational damage. Conversely, those that listen can build stronger social licences to operate and design products that truly meet demand.

Africa’s private sector leaders: from data to decision-making

Several speakers at the Nairobi forum highlighted how citizen-centred data can be translated into competitive advantage. Pawel Zarzecki, Export Manager at Bart, a health-focused manufacturer, noted: “What is most important to me in business, especially when working with African partners, is starting with data, then building connections and cooperation, and only then moving into the details and country-specific specialisations.”

Eve Mischeki from the Women in Business network added that Afrobarometer’s findings closely mirror the realities faced by women entrepreneurs, particularly around access to services and economic inclusion.

For investors and corporate strategists, the message is clear: public attitude data should inform everything from market entry strategies and product design to corporate social responsibility programmes and government relations. In an era where social media amplifies citizen discontent almost instantly, ignoring public sentiment is a high-risk strategy.

Bridging the gap between savings and impact

The timing of Afrobarometer’s engagement is particularly significant. The newly released Landscape Report on Africa’s Institutional Capital Markets, also launched at the PAFMA Conference in Nairobi, revealed that pension funds and other institutional investors hold over US$600 billion in assets. Yet the vast majority remains parked in government securities rather than flowing into infrastructure, housing, or SMEs, the very sectors that could drive inclusive growth.

By integrating citizen perspective data, businesses and investors can better identify where capital deployment will have the greatest social and economic multiplier effects. This alignment is critical if Africa is to mobilise its own domestic resources to finance Agenda 2063, the African Union’s 50-year blueprint for continental transformation.

A call for deeper collaboration

Afrobarometer’s engagement at the CEO Conclave forms part of a broader effort to deepen collaboration with the private sector. Through a series of targeted dialogues, the research network aims to increase awareness of its data and co-create solutions that respond to both business needs and societal priorities.

The response from delegates suggests the message is resonating. As Africa’s economies continue to grow and global investors look for new frontiers, those who treat citizen voices as strategic intelligence rather than background noise are likely to gain a decisive competitive edge.

In the words of Felix Biga, the challenge, and the opportunity, is clear: “Those who listen to the people will be best placed to build businesses that are not only profitable, but also resilient and future-ready.”

Read also: The 39th AU Summit: Can the Private Sector Save Agenda 2063?

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