Business confidence up

SA's business confidence is at a three-year high on the back of the Ramaphosa presidency.

In the fourth quarter, business confidence climbed to the highest since the start of 2015. The RMB/BER business confidence index rose 11 points, to 45, the most since the first quarter of 2012, said FirstRand’s RMB unit and the Stellenbosch-based Bureau for Economic Research.

They said in a statement:

“The widespread rise in the BCI had one common cause: the recent turn for the better in domestic politics… In the absence of the appointment of Cyril Ramaphosa as the country’s new president and his subsequent Cabinet reshuffle, among other factors, developments around business activity – and profitability – would not have justified the large 11-point jump in the BCI.”