Business forecast set to improve
This is according to the South African Chamber of Commerce and Industry (SACCI), who reported an improvement in the Business Confidence Index (BCI) for April
BUSINESS and investor confidence will become pivotal to the economy in the second half of 2019.
This is according to the South African Chamber of Commerce and Industry (SACCI), who reported an improvement in the Business Confidence Index (BCI) for April.
The mother body of regional chambers, including the Zululand Chamber of Commerce and Industry, said business confidence improved by 1.9 index points to 93.7 last month compared to the 91.8 in March.
It is however 2.3 index points below the 96.0 figure in the same period last year.
‘A number of events impacted the business climate and business confidence during this month.
‘The month of April saw a massive increase in political party campaigns towards national elections.
‘The common theme of election manifesto policies among the parties to drive economic growth and job creation seemed to resonate well with the markets, to believe that there is adequate seriousness by parties and by government to adopt that help to fight corruption and drive an economic growth agenda,’ SACCI said.
SACCI said the capital and financial markets remained relatively stable during April while the Rand strengthened but remained unstable.
‘The abrupt absence of load shedding is by no means an indication that all is well at Eskom, for example, but the benefit of this absence and other favourable events benefit businesses and increases confidenc,’ SACCI said.
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