South Africa business confidence is lowest in 35 years

Hanno Labuschagne

Journalist
Staff member
Joined
Sep 2, 2019
Messages
2,325
South Africa business confidence is lowest in 35 years

South African business confidence slumped to the lowest in 34 years in 2019 as the country faced power cuts, delays in policy implementation, deteriorating public finances and the risk of losing its only remaining investment-grade credit rating.

A sentiment index compiled by the South African Chamber of Commerce and Industry showed business confidence declined to an average of 92.6 from a two-year high of 95.5 in 2018, according to an emailed statement Thursday. That’s the lowest annual number since 1985.

Sentiment surged in 2018 after Cyril Ramaphosa won the leadership of the ruling African National Congress and took over as president of the country, but has since slumped as reforms stalled.

[Bloomberg]
 

eg2505

Honorary Master
Joined
Mar 12, 2008
Messages
23,904
How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

--- v for vendetta.
 

Thor

Honorary Master
Joined
Jun 5, 2014
Messages
41,946
How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

--- v for vendetta.
This.
 
Top