South Africa's business confidence stable for January

South Africa’s Chamber of Commerce and Industry has recorded a stable business confidence for the month of January.

The business confidence index came in at 95.1 index points for January, an increase of 0.1 index points month-on-month. However it slipped from 95.2 in December.

Improved investor confidence in the industrial nation remains the remedy to higher economic growth.

Investors are waiting on the country’s budget hearing with Finance Minister Tito Mboweni on February 20.

Meanwhile, South Africa is committed to enhancing investor confidence and positioning itself as one of the leading emerging market investment destinations.

On Tuesday, President Cyril Ramaphosa assured investors that prosecutions will be made following the inquiry into allegations of state capture.

He emphasized to investors that South Africa and the African continent are destinations that offer great value. Ramaphosa was speaking on the sideline of the Mining Indaba 2019.

Agencies