South Africa business mood at pre-virus levels as economy re-opens
9 June 2021

A quarterly business confidence index compiled by FirstRand Ltd.’s Rand Merchant Bank unit and Stellenbosch University’s Bureau for Economic Research jumped to 50 in Q2, from 35 the previous three months. At the same time, a monthly index by the SA Chamber of Commerce and Industry rose to 97 in May from 94.7. That’s the highest level since March 2018, a month after Cyril Ramaphosa became president of the country and pledged to revive the economy and fight corruption. While RMB and Sacci welcomed the improvements in sentiment, both flagged uncertainties, including the third wave of Covid-19 infections that could prompt stricter lockdown measures, as factors that may weigh on the business environment.

 

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