First Africa Business Confidence index out

  1. Posted on Saturday 5 February 2011 - 07:19
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    Kent Mensah, AfricaNews editor in Accra, Ghana
    Africa Business Panel has published the first pan-African Business Confidence Index (ABCI). The index measures business confidence in the manufacturing and non-manufacturing private sector throughout Africa. The January results indicate confidence and growth with an index of 63.88 and 61.33 for the manufacturing and non-manufacturing sectors respectively.
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    A level of 50 and above indicates expansion, according to the report released on Friday. 955 business professionals from 42 countries in Africa participated in the survey making the results a reliable gauge and early indicator of the underlying economic activity on the African continent.

    “We are delighted to present results for the first pan African Business Confidence Index. The level of participation across the African continent is a good indication of trends and activity across the private sector in Africa and will contribute to the outlook and reputation of Africa as a place to do business,” noted Bas Vlugt, partner and co-founder of Africa Business Panel.

    The ABCI, which would be released monthly, follows a similar methodology and logic as the PMI indices which set the global standard. Members of the African Business Panel are business professionals and entrepreneurs working in Africa’s private sector. On a monthly basis they are invited to report change from the previous month on the following indicators: new orders, production, employment, supplier deliveries and inventories for the manufacturing sector and business activity, new orders, employment and supplier deliveries for the non-manufacturing sector. For more information on the survey and index methodology please visit www.africabusinesspanel.com

    Survey Highlights    :
    First private sector business confidence index for the African continent
    955 African business professionals from 42 countries in Africa participated in survey
    Manufacturing sector confidence index 63.88; non-manufacturing 61.33
    These levels indicate expansion for manufacturing and non- manufacturing sectors
    Senior level participants from 337 African companies with revenues of more than $ 100.000 and 17 with revenues of more than $ 1 billion

    Africa Business Panel (ABP) is a joint initiative of Africa Business Communities, a fast-growing network of African entrepreneurs and business professionals, and NarrowMinds, a leading architect of online market research and loyalty programs.

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