SA's business confidence index drops

For the second month in a row, business confidence in South Africa has dipped.

The South African economy’s momentum following the election of President Cyril Ramaphosa earlier this year has started to slow. According to the South African Chamber of Commerce and Industry (Sacci), the country’s business confidence index (BCI) declined by 1.3 index points in March, settling at 97.6, down from 98.9 in February.

Sacci said in a statement:

“The business and economic climate remained favourable in the first few months of 2018 and there was a serious attempt to eradicate the most obvious maladministration and financial mismanagement in the public sector.”

Sacci added that although there is “great hope for economic policy certainty and a pivotal role for the business”, the current positive climate and momentum of business confidence needs to be supplemented by tangible results.