The South African Chamber of Commerce and Industry (Sacci) has reported that business confidence dropped slightly by one index point in January 2019 compared to December 2018.
According to the Chamber, the drop in business confidence was more significant on a yearly basis, declining four index points in January 2019 compared to January 2018.
Sacci economist and author of the business confidence index report, Richard Downing says lack of policy certainty is preventing businesses from investing in the South African economy.
“We are seeing the direction of policy and the way we are addressing issues and identifying issues is very important. But you must address certain issues as well in the economy, as well as the lack of investment which the president stated over and over which is important. But more importantly, it must be financed from somewhere and that will come from the foreign investors and then the budget and the SONA. And what follows after that, practically, the implementation of that.”