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SA Chamber of Commerce and Industry Richard Downing. Picture: SUPPLIED.
SA Chamber of Commerce and Industry Richard Downing. Picture: SUPPLIED.

Business confidence in SA is the focus of this edition of Business Day Spotlight. 

Host Mudiwa Gavaza is joined by Richard Downing, an economist with the SA Chamber of Commerce and Industry (SACCI). 

Downing helps to decipher the results of Sacci’s Business Confidence Index (BCI) for December, which reached a notable 112.1.

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This marks the second-highest level for the year, surpassed only by the January 2023 peak of 112.9. Throughout 2023, the BCI maintained an average level of 109.6, consistent with 2022, and higher than the 108.5 recorded in 2021. Although the BCI experienced a dip in the middle of 2023, it rebounded in the fourth quarter, concluding the year at 112.1 in December.

Downing says the recent state of the nation address (Sona) and upcoming national budget for 2024 will be instrumental in determining the trajectory of business and investor confidence in 2024. 

This is especially true in a year where politics and the upcoming general elections are top of mind for market players. 

Topics of discussion include the latest results around business confidence in SA; factors driving sentiment; SA’s monetary and fiscal policy agenda; and the effects of elections on business confidence. 

• Business Day Spotlight is a TimesLIVE Production. 

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